- Feb 6, 2011
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Yes.
Go ahead.. I have to hear this.. Explain plz.
When you run too much external debt, you devalue your currency to gold. That has happened throughout history.
You can run as much internal debt as you want, as long as the money stays in the country.
The gold standard removes the need for a Central Banking System thus eliminating maipulation of our monetary policy which creates debt in turn- it's main goal to make banks and people behiolden to them..