Originally Posted by Lebowsky
Your idea of going back to the gold standard is not only impossible to implement in the present day, but it's also stupid. It'd be terribly impractical, it'd limit and constrain your economy and its potential and it'd leave your country powerless towards its own monetary policy, because it'd be subject to an exogenous and very erratic factor like the the price of gold is.
What makes you say the price of gold is erratic? Gold is one of the most stable commodities in the whole world. There's a finite amount of it and everyone accepts it as money. As a stock, it doesn't seem at all erratic to me. It's rising steadily as we steadily decrease the value of the dollar..
As for the rest of your feelings about my feelings on the gold standard.. I need to do more research on the gold standard before I get into any long winded discussions about it, admittedly. However from what I know of it, I don't believe it'd be very hard to implement or as restraining as you and others suggest. And besides, it's not like we're tossing out the Mona Lisa to adopt some crappy fingerpaint a 3rd grader did. Our current system is in shambles. What "potential" does our current economy have that a gold standard would restrain? The potential to rob people of their wealth by over inflating? The potential to allow politicians to continuously create new federal programs that the people would never pay for via taxes?