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217

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[–] • 2 pts

John Maynard Keynes urged the United States and Great Britain to abandon the gold standard, calling it a "barbarous relic."

Fuck Keynes! This was nothing more than pure lies to ultimately achieve fiat currency backed by nothing. I doubt Keynes came up with this himself, rather he was told to espouse this idea so criminals could steal taxpayer money.

[–] • 1 pt

Bump for Mises institute!

Was the dollar not a bimetallic definition back in the day? A little gold + some silver? That would be before 1914.

Anyhow, coin standard is most difficult to inflate. My preference would be to let people mint any coin they like so long as the content was right. Round coins, cubes, whatever you think will work.

Fun fact: the dollar was named for Thaler which was regarded as the best minted coin for gold purity. How far that's gone.

[–] • 0 pt

How do you use more than one metal without fixing the relative prices of the metals in question? A gold dollar would be annoyingly small, right? Though I suppose low denomination currency could be gold combined with other things. Paper money is supposed to be more convenient than coins, though paper itself seems to be used less and less.

[–] • 0 pt

Going from memory on that and may be wrong. It would be a gold silver peg which would certainly come back to haunt you eventually and somehow.

[–] • 0 pt

I am no simpleton. This guy needs to write more than one sentence in a paragraph.