The fuck you got against the gold standard? You prefer inflation and backless papers of green paper? Fiat currency never survives.
Thanks for fighting me on this. I know you don't have all the time in the world to lecture. But I think the gold standard is a pretty obviously bad idea at this point, and if you can beat the crap out of me on this issue, I would love to see your argument. I am not uttering sarcasm.
0. The gold standard leads to a lack of liquidity/deflation which is also bad for the economy.
1. "Fiat currency never survives." Nothing ever survives. (i.e. In the long run, we're all dead.)
2. BUT backless strapless steel-belted radial green has been part of our economy since the Federal Reserve
Bank Notes of 1933. We've had a pretty good 70 years, all things considered.
3. The full faith and credit of the United States of America is -- perhaps -- not as solid as gold, but it has been and will continue to be more than adequate.
4. Because of loans on top of loans, an economic system based on gold isn't that secure in the first place.
5. Is it possible that a huge deposit of gold could be found/released/alchemated that would flood the market and cause inflation? I know this is possible/imminent with diamonds.
6. Isn't our faith in gold as a standard of value based on everybody else thinking it's of value, and not on its actual usefulness? Isn't the same said of the green papers? You can't make your own gold with a photocopier, but its rarity doesn't immediately translate into value.
These have been numbered to make it easier for you to knock them down in turn.
I Am Not Uttering Sarcasm --> i-anus?