Quote:
Originally Posted by kingkilburn
That has more to do with the FED changing interest rates and directly affecting the stock market than not being on a gold standard.
If we did nothing else but go back to a gold standard the above would remain almost completely unchanged.
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As I've said in the past in this thread, if the dollar sinks, what do we base the value of gold from?
I think you're main argument is you want a 'backed' system, not a credit based. Unfortunatly that sort of system prohibits many things that keep our businesses growing/expanding/mvoing onward...credit. A backed system or 1:1 system simply would never work in today's world, nor has it ever since 'paper' systems have come in place.