Why Not a Gold Standard?

[Martin Hash]

Basing dollars on gold is called monetarism: gold is the real currency and dollars are the fiat. Uncomprehending people often think this is a good idea because they don't know or don't care that monetarism leads to an aristocracy. Let me provide a simple explanation:

Consumables are goods that only last a short time: food, services, entertainment, etc. These goods are still produced, they just aren't durable. Most people are consumers, almost everything they purchase, they consume. If there is a gold standard, someone receives gold for food, but the gold is still around after the food is gone. Eventually, one person has all the gold, and everybody else has nothing because they consumed it.

Fiscal economies don't have this problem. They "print" dollars to equal the production of goods; consumables & durables alike. Monetarists who want to own everything don't like this approach.

[DBTrek]

One of countless reasons an infinite potential can’t be represented by a finite commodity.

[Speaker to Animals]

^^^ Still no comprende fracciones.

[DBTrek]

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

[SuburbanFarmer]

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

Does anyone track how many atoms of gold a dollar buys now?

[SuburbanFarmer]

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

Does anyone track how many atoms of gold a dollar buys now?

Dude, WTF, didn't you just buy some gold?

Yep. Weirdly, we didn't have to break out an atomic scale for the transaction.

[DBTrek]

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.

[Haumana]

[Fife]

[C-Mag]

All currency is backed by one thing................................... Force.