

Steve Forbes: Link dollar to gold or face Great Depression II - spking
http://washingtonexaminer.com/steve-forbes-link-dollar-to-gold-or-face-great-depression-ii/article/2549231

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bediger4000
I risk circularity here, but...

Does anyone other than cranks believe that we should go back to a gold
standard? Have we considered going on a silver or platinum or rhodium
standard?

And a serious question: why should any country link its money to quantities of
precious metal? I mean, don't we have to adjust the amount of money in
circulation to account for the greater value of stuff we've made since last
year? I mean, sure, we drank all the booze we made last year, but we've turned
wood into furniture, iron into buildings, brake presses, ships & etc, and
we've mined a lot more copper, tantalum, gold, silver and platinum. We've got
a lot more valuable stuff lying around. Don't we need more money this year
than last year? And don't we need to adjust the amount of money in circulation
to account for things like wars and natural disasters, where everything gets
turned into rubble and we've got a lot less stuff than last year?

