The Gold Standard

Rudimentary economic justification for adhering to a 100% gold standard. This video explains how inflation is a direct continuation of what's fundamental under a fiat currency model establishment where monies are printed with no backing.

Anton_Batey@yahoo.com

Category:

Education

Tags:

• Gold
• Standard
• Inflation
• Money
• Federal
• Reserve
• Economics
• Economy
• Anton
• Batey

[TBird4490]

Gold standard will not work in today's economy. Fact.

[AntonBatey]

@TBird4490

Yeah, I agree. I have changed my mind since making this video.

[streetz23]

AUDIT THE FED! RESTORE THE CONSTITUTION! RON PAUL 2012!

[lmolinari78b]

fundamentally it might be good to go back to a gold standard, but if we did the average American net worth would fall more than 90%. Our economy and society would collapse. It would be a very painful time, but it would be the bottom. And in 10 or 20 years our economy would recover based upon restructuring our manufacturing and exporting markets. But no political administration will ever do it.

[streetz23]

@AllenJeffreyGurfel (cont.) With the economy in shambles the Fed has no choice but to try to save itself by authorizing to print more money i.e. stimulus which is only going to increase the national deficit, devalue the currency, and create more inflation. That is when inflation will shoot through the roof.

[streetz23]

@AllenJeffreyGurfel you're right the Fed doesn't print money the US Bureau of Engraving and Printing does but the Fed does authorize it. Inflation could be seen throughout history as a coca cola bottle was 15 cents 50 or so years ago, but that was before the Fed caused massive bubbles i.e. housing bubble, dotcom bubble, and the soon to be college bubble which destroy the economy and allow reckless government spending.

[AllenJeffreyGurfel]

@streetz23 the Fed doesn't print money. over the last several years the currency in circulation has not shot through the roof. other measures have nearly tripled, yet somehow we haven't had any crazy inflation. then again the austrians care little for reality or observable data.

[streetz23]

@AllenJeffreyGurfel great now fix the policy and stop printing money out of nothing!

[AllenJeffreyGurfel]

@streetz23 The Fed is audited.

[spark300c]

@TBird4490 with relative gold standard if could would work. There would be not need for gold Reserve but money supply is determine, by price of gold. The price of gold goes up the money supply will go down. if price of gold goes down the money supply goes up.

[Prescottstud]

@bjones256 think this comment was meant for someone else yes we agree

[UnitedPebbles]

The cost of printing paper vs mining gold is reflected in the market plus sentimentalism.

At once time, anyone could argue that the cost of printing paper is nilch!

[111Socrates777]

@AntonBatey Why did you change your mind?

[ToxinalX]

@Jymyle Yes and No.

No, At the current time The Fed is very hard for the congress to get any real insight into or to controll in any matter. (That's part of the purpose of it actually, as it is supposed to minimize the speculation it causes.)

Yes, other than that; If they printed PAPER money that is. But they shouldn't do that since it would still be a tax on the people, were it to cause inflation.

If they could only make gold and silver coins however inflation would be limited to the supply