Amateur Hour Continues

He’s a traitor either way little man
He loves this country far more than you and your ilk. There's no way someone like you understands being apolitical and nonpartisan. You've never been in a position where politics doesn't matter. Too much factual evidence from your posts to suggest you have a great love of your country
 
He loves this country far more than you and your ilk. There's no way someone like you understands being apolitical and nonpartisan. You've never been in a position where politics doesn't matter. Too much factual evidence from your posts to suggest you have a great love of your country
iu
 
Ok why would returning to gold standard be bad?
1) It’s a waste of resources.
2) It makes fighting inflation and recessions harder by outsourcing monetary policy decisions to how much gold we have which would then depend on our trade balance and on how much of the gold we can dig up. If you attach the dollar to gold you have to raise interest rates when gold is scarce, regardless of the state of the economy. Both both inflation and economic growth would be too volatile under the gold standard. It was one of the causes of the Great Depression.
 
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No more adding debt to the nation, you can't create money out of thin air anymore. No more Fed manipulating interest rates. Imagine a balanced budget every year.
Both Parties are awful at this but the left would never ever want a balanced budget because it would require the elimination of needless spending waste and the need for higher taxes
 
1) It’s a waste of resources.
2) It makes fighting inflation and recessions harder by outsourcing monetary policy decisions to how much gold we have which would then depend on our trade balance and on how much of the gold we can dig up. If you attach the dollar to gold you have to raise interest rates when gold is scarce, regardless of the state of the economy. Both both inflation and economic growth would be too volatile under the gold standard. It was one of the causes of the Great Depression.
What resources?
My understanding was banks didn't have anything backing their fiat money and bonds so they failed when investors came to get their money. What am i missing?
 

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