Would you support going back to a gold standard like we had before money was fiat?

[matthew]

i guess your school European history kinda glossed over that, eh? Yes, they glossed over all history, and apparently English too. No need to insult somebody for asking a question, eh. Everybody is on a different level on different subjects, I'm always open to ideas and things I haven't heard yet. I do find your answer interesting and will look it up.

[CottonEyeJoe]

uh no. you should do some actual reading on the subject, it is quite clear that this is a very stupid idea. unemployment would be running at 30% right now at the minimum. cut the ron paul/peter schiff cult.

[doobie43]

Only an approximate 7% of the money from the stimulus has actually been put into circulation.
The use of gold would be great, except chances are looking very good that once Fort Knox is open, we will find that most of the actual gold we would need to implement something like this is no longer where it is supposed to be, and has been stolen too.

[mikal_1978]

No.

[bvw]

Yes. Even a currency that was redeemable to some limit per year in gold -- would still be better than present.

[raypay2003]

Sure would but we will never see it to easy to just print more

[samurai]

Absolutely.

[DAR]

First we need gold and silver as competing currencies while we unwind the TRILLIONS the fed has just injected. We can't leave that out there to circulate with the massive inflation it will inflict once banks stop hoarding.

Then, yes.

Or any commodity standard if gold is too easily manipulated by gold rich countries. As Ron Paul says, it isn't that gold is perfect, it is that paper is insane.

And gold is in the Constitution, so the burden is on those who DON'T want it to make another commodity legal.

[Sammy]

it's time

[Spocktrhpt]

it was unworkable.

the volume of money was controlled by how much gold had been dug up. when large new deposits were found, the volume of money soared and the value of everything else declined.

the proof of this proposition is the inflation that seized all of Europe after the Spanish looted huge volumes of gold from the Aztecs and Incas and hauled it back to Europe. Within a generation, the value of everything else had crashed by a factor of ten -- there was too much gold in circulation which inflated prices and crushed values.