The Gold Standard Revisited
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@firefox8192 also Article 1 Section 10 "No State Shall... Make any Thing but gold and silver Coin a Tender in Payments of Debts"
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Hey guys, you know what else doesn't ever decrease in value?
Real Estate.
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The world bank adopted the gold standard in Dec. 2010. Victory? lol
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@evadidio This is a unbacked claim. Why would the economy be stagnant? When has this happened in history? Why wouldn't people be able to keep exchanging? The government is necessary for the ability of people to exchange goods and services? Inflation is necessary to restart production? Prices need to go up for production to restart? None of that makes sense.
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@worldnewsbbc1 Gold standard works in capitalism. We had a federal reserve at that time, so the gold standard we were on wasn't really a gold standard.
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@evadidio The market fixes the value of gold, not the government.
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@worldnewsbbc1 Read again: In contracts AND trades. Right now, you can place gold "clauses," which is not the same thing.
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@ftorresgamez People can use gold freely in contracts dummy. Gold clauses were legalized in October 1977 in accordance with 31 U.S.C. § 5118(d)(2).
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@PleaseNoPolitics You haven't done your home work. FDR took the country off the gold standard in 1933. From 1913 until 1933, inflation was 1.51% per year and real per capita GDP grew at an annual rate of -0.39% per year. That's why pundits fear the gold standard dumb ass.
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This fear of a gold standard is baffling. All it takes is a little study into the matter to see that a market-borne, commodity-backed money solves so many unnecessary economic problems all by itself.
If I can learn it and understand it, these establishment pundits certainly can.
PleaseNoPolitics 3 years ago 9
the federal reserve is unconstitutionsl. ARTICLE 1 SECTION 8 OF THE CONSTITUTION. THE TRUTH ABOUT THE FEDEREAL RESERVE.
firefox8192 3 years ago 8