Should we return to a hard money?

[KittenKoder]

I like the idea.

 

[editec]

That is a problem but why can't we just adjust the value of the dollar to whatever gold that exist. It doesn't have to be one dollar equals one ounce of gold. It can be one dollar equals 1/100,000 an ounce of gold. It would be a cheap currency but at least it would be backed up.

As crappy as our fiat system is, and as much sympathy as I have for this idea, the gold standard requires too much inflexibility in the economy when dealing with recessions.

The fiat system has not yet played itself out, and perhaps in 2015 or 2020, the politicians will have wrecked our currency enough such that the problems with a fiat currency system are worse than a gold standard. However, for now, the answer is no.

In the meantime, I own a lot of gold.

I really think that we should have a private currency alternative to the government's own money. We can call it the "private option" and the US dollar the "public option".

You have that.

It's called a checkig account.

 

[KittenKoder]

As crappy as our fiat system is, and as much sympathy as I have for this idea, the gold standard requires too much inflexibility in the economy when dealing with recessions.

The fiat system has not yet played itself out, and perhaps in 2015 or 2020, the politicians will have wrecked our currency enough such that the problems with a fiat currency system are worse than a gold standard. However, for now, the answer is no.

In the meantime, I own a lot of gold.

I really think that we should have a private currency alternative to the government's own money. We can call it the "private option" and the US dollar the "public option".

You have that.

It's called a checkig account.

How ... um ... huh?