Quote from Lucrum:
I was thinking the same thing.
For all you economic/financial geniuses so much smarter than I, seriously what exactly would be wrong with a gold standard?
While the gold standard has its advantages, it also has flaws. Most importantly, it has one very painful problem, which, unfortunately, makes it all but useless in the modern world. The problem is that it's only viable if you and your main trading partners all abide by it at the same time. Obviously, that's impossible to enforce, which means that a rival (e.g. China, India) might be able to exploit the arrangement opportunistically to obtain a massive competitive advantage. Worse yet, they could completely cripple your domestic economy at will with a reasonably modest effort.Quote from Lucrum:
I was thinking the same thing.
For all you economic/financial geniuses so much smarter than I, seriously what exactly would be wrong with a gold standard?
Interesting, thanks.Quote from Martinghoul:
While the gold standard has its advantages, it also has flaws. Most importantly, it has one very painful problem, which, unfortunately, makes it all but useless in the modern world. The problem is that it's only viable if you and your main trading partners all abide by it at the same time. Obviously, that's impossible to enforce, which means that a rival (e.g. China, India) might be able to exploit the arrangement opportunistically to obtain a massive competitive advantage. Worse yet, they could completely cripple your domestic economy at will with a reasonably modest effort.
Quote from pspr:
I don't know if anyone has mentioned this yet, but when Ron Paul says things like he wouldn't have gone in to get/kill Osama that just pisses people off. He's just too far out on a limb for anyone to take seriously. SOME of what he says makes since but I wouldn't vote for him in the primary and he's not electable in the general election.
He's sort of like Trump, great hair but not electable.