Going back to the gold standard is a bad idea...

[Anarchist420]

1. it would nationalize a limited commidity (like the House of Saudi does with oil, like King Andrew had done, and like the Papacy tried to do for Europe back in the day).
2. the root of the problem is the Constitution which allows for a govt mint (or approval/denial of other mints), the banning (at gun point) of fiduciary media, the banning of the rights of the States' to have their own currencies, and centralizing regulations. For example, when Jefferson repealed the silver standard, the good didn't last because Madison simply started a war.
3. due to (2), it would immediately create instability plus it would either have to create a huge inflation or deflation.

Who would want to share the gold with the govt? Is Jacksonian monetary system really better than the Fed?

I know I won't ever want to share my silver with the govt so I surely wouldn't want to share gold with the govt.

 

[DominionSeraph]

Seek professional help.

 

[yllus]

Good, so we're all agreed - we never have to have a thread on this topic ever again.

 

[bfdd]

Just allow for competing currencies, then there's no issue of a currency being available while being backed by gold for those that prefer heavy metal backing to fiat.

 

[yllus]

Just allow for competing currencies, then there's no issue of a currency being available while being backed by gold for those that prefer heavy metal backing to fiat.

Within a single country? I'll be blunt: That is an incredibly stupid idea.

 

[Screech]

Posting in an A420 thread is a bad idea.

Ah......shit.

 

[Anarchist420]

Just allow for competing currencies, then there's no issue of a currency being available while being backed by gold for those that prefer heavy metal backing to fiat.

you're off to a good start, but the National Reserve Act (which was proposed by the opponents of the Federal Reserve Act, the latter being enacted instead due to Democratic opposition) would've allowed for competing currencies. If the govt tied the dollar to a basket of commodities, then that would be competing currencies, and we already kind of have competing currencies on a global sense (due to a trade war, the dollar kind of competes with the Yuan and the decisions with the dollar are somewhat tied to the Euro).

I think you, as a libertarian, would want the govt to not prohibit free market money... I'm guessing that's what you meant anyway.

 

[Soundmanred]

Ok...

 

[Incorruptible]

Just allow for competing currencies, then there's no issue of a currency being available while being backed by gold for those that prefer heavy metal backing to fiat.

This. End the Fed and allow competing currencies, let free people decide what currencies they want to use

 

[techs]

I propose we go on the Twinkie standard.

 

[diesbudt]

I propose we go on the Twinkie standard.

:thumbsup:

 

[Thump553]

I view this as a potentially good sign that you are weaning yourself off your obession with gold. You do realize by doing so you will be marching out of step with 99.9% of the tinfoil hat crowd, don't you?

 

[zinfamous]

I propose we go on the Twinkie standard.

I've heard they have a near-equitable half-life to other precious metals.

 

[Anarchist420]

You do realize by doing so you will be marching out of step with 99.9% of the tinfoil hat crowd, don't you?

well, gold wouldn't necessarily stop the state and it wouldn't necessarily make GPUs and monitors good.

Gold is not god, so it fluctuates in value, which means it is L.D. to have all of your savings in gold. Still, paper is poverty for the self when the self doesn't use it right... Jefferson and Dr. Paul are divine and human, so my signature still stands.