11 Jan 2023 1:05 pm
Xavier_Onassis » 11 Jan 2023, 10:23 am » wrote: ↑ Pure gold, ie 24K gold, currency is not practical, gold is too soft a metal for that. Nearly all gold currency has always been an alloy. Since the production of gold from mines is not a constant, the value of gold is also not a constant, and when production drops, that causes panics, recessions, and depressions. If you study the economic history of this country ( or the world, for that matter), it is easy to see that the results of a gold standard are severe economic crises every seven to ten years.
But this is a useless argument since there is ZERO chance that this country will ever go on a gold standard. Just as Libertarians actually being elected to any useful number in the government is also an impossibility.
Paper comes and goes, but gold and other metals are always a constant. Goes back to the first woman who ever saw a shiny object and wanted her man to get it.