Tn,Libertarian666 wrote: ↑Sun May 05, 2019 8:02 pmThe reason that no government uses the gold standard is that it prevents them from stealing people's wealth by stealth.Kbg wrote: ↑Sun May 05, 2019 7:50 pmTn,
With respect, you are just flat wrong on several points concerning paper money. Financial crises were far more frequent in earlier times and usually more severe on average. Additionally, very few economic crises have anything to do with money per se. They are almost always caused by something more fundamental and real.
Be careful where you get your info on gold and money, inevitably (surprise) the stuff you were spouting sounds like it comes from people who sell gold...
Riddle me this: Why doesn’t anyone use the gold standard anymore? Conspiracy theories not allowed. Actual historical facts and contemporary statements required.
That is not a conspiracy theory, but a fact.
However, I don't debate with people who use such tactics, so you are blocked.
How is it stolen and to whom do the benefits and costs go from inflation?
Am I stealing from the bank that decided to give me a 30 year fixed rate loan? Am I benefiting from it now or still getting my clock cleaned?
But if you are going to assert inflation is always a detriment, pray tell why is a deflationary hard currency crisis a good thing and how am I benefitted by one more than low grade inflation.
Or do you prefer an ostrich approach to life?
I hold gold as a part of a diversified portfolio, but the vast amount of information you get fed from the gold coinage industry is pure crap and does not survive an unbiased analysis of which there are many both as a financial asset and an historical monetary basis instrument.
Fact: In the modern world money is money because an internationally recognized government says it is.
Test question: What do we quote the value of gold in? Last time I checked I haven’t been able to find a quote for 17.5 lbs of green colored paper with dead US presidents on it per 1oz of gold metal.
Second test question: If you are running a gold bullion selling/ storage business, why in the world would you accept a list of 1s and 0s over the internet and send actual real gold to someone? It seems the height of foley to me.