Why Not a Gold Standard?

[Speaker to Animals]

I comprehend fractions fine. I also understand the economic inefficiency involved in trying to track how many atoms of gold a fiat dollar represents on any given day in a nation of 315 million tied to a global economy.

Derp

What part of your derp should I even begin to address? Hmm.

Easy one to start: You should ask yourself how many fractions exist between 0 and 1.

Second, you apparently have no idea that a gold-standard is NOT a fiat monetary system. That's a pretty big stumbling block to the discussion.

Third, we ran on a gold standard until the 1970s. It didn't seem to wreck the global economy..

[Okeefenokee]

that hurts

[DBTrek]

1. Infinite fractions that become increasingly inefficient to track.

2. Gold isn’t fiat, I misspoke. What I meant is representative currency is still printed and circulated.

3. We’ve run fiat currency since 1970 and we haven’t suffered for it nor seriously looked back.

[Fife]

Weirdly you don’t even need currency to run an economy, but the accumulated geniuses fat from their fiat currency lifestyles are pretty sure their yellow rock is magical.

Your powers are growing, grasshopper.

Human Action is THE reality on our plane, not monetary "intelligent design," or any other kind of revealed hooey.

[Speaker to Animals]

1. Infinite fractions that become increasingly inefficient to track.

2. Gold isn’t fiat, I misspoke. What I meant is representative currency is still printed and circulated.

3. We’ve run fiat currency since 1970 and we haven’t suffered for it nor seriously looked back.

1. LOL, what? Track what? If a dollar is worth 1/50 of a troy ounce of gold, then what are you tracking? Do you even think about this shit before you post??

2. Uh.. okay.. so?

3. Dude, we have seen inflation wipe out the middle class. Our entire government is reaching the point where it has to choose between defaulting on sovereign debt or flooding our monetary system with more worthless dollars. Every time they fuck it up worse, their default, go-to solution is to just print more dollars, and the middle class just sinks further into ruin. It's definitely not fucking working.

[Smitty-48]

Inflation isn't harming the middle class, the middle class is debt financed, inflation is their friend.

[Fife]

Take the time if you all are actually interested in what "money" actually is, and is not.

Plus, Murphy gibs a solid Eddie Money reference.

Which gets zero laffs from this crowd.

Which is laff-worthy all by itself. :goteam: :drunk:

[SuburbanFarmer]

Inflation isn't harming the middle class, the middle class is debt financed, inflation is their friend.

That's not what a middle class is supposed to be.

[Speaker to Animals]

Inflation isn't harming the middle class, the middle class is debt financed, inflation is their friend.

That's not what a middle class is supposed to be.

It's not even worth trying to explain that.

[Smitty-48]

Inflation isn't harming the middle class, the middle class is debt financed, inflation is their friend.

That's not what a middle class is supposed to be.

According to what, the international handbook of middle classes and how they're supposed to be?

The class in the middle is the middle class, last time I checked, professor.