The debate "Should we stick with monetary policy or go back to the gold standard" was started by
January 8, 2018, 9:15 am.
3 people are on the agree side of this discussion, while 2 people are on the disagree side.
There needs to be more votes to see what the common perception is.
It looks like most of the people in this community are on the agreeing side of this statement.
historybuff posted 1 argument to the disagreers part.
Austynbb, historybuff and 1 visitor agree.
2 visitors disagree.
there are very good reasons we got off the gold standard. I seriously doubt we could amass enough gold to restart it.
the problem with the gold standard is that if other nations are not in the gold standard, they swap their relative currency for dollars, and then swap the dollars for our gold (based on the standard exchange), which drains our gold and lowers the value of our currency.
I think their may be other issues, like limiting our economy to the size of our gold chest, but I'm not sure of the details of that. being robbed by other nations is reason enough for me to find some alternative.
besides what's the value of gold based on? demand! just value the dollar the same way, demand.