Pros and cons of the Gold Standard?
>>1000063
https://www.youtube.com/watch?v=MvBCDS-y8vc
>>1000063
>Pro
It's shiny
>Con
It's heavy
>>1000063
Gold is a very valuable commodity.
>>1000063
>Cons
A slower moving economy
>Pros
A system that isn't based on electronic funny money or autistic abstraction fun time economic theories
>>1000745
woah..
Money don't real, senpai.
The American dollar is relatively stable compared to the Canadian so investing in gold protects your money if the Canadian dollar keeps depreciating in value versus American dollars. The price of gold fluctuates but overall it always gains value. Gold is much more compact and durable then storing cash but has to be traded back to the bank before you can spend it. Gold will maintain its value through inflations and recessions. Gold is universally accepted as a valuable commodity.
>>1000745
Charlemagne plz leave
There aren't enough precious metals to back the assets held by banks.
You can leave the gold standard, but you can't return to it once you've left without restarting your currency (ie, economic revolution/collapse).
>>1000063
With fiat currency, banks can create credit on demand, i.e. whenever somebody comes in with a good business idea. As opposed to "sorry, that's a great idea and I'm sure you'd turn a profit, but we haven't dug enough metal out the ground".
Also, why plump for a gold-backed currency when you could just literally buy gold?
not enough gold
>>1000063
You better shut up about the gold standard goy or we'll shut you up permenately
>>1000000
>>1001359
This. paper currency is fine as long as its a reflection of the economy rather than an attempt to manipulate it.
>non-fiat currencies
Literally meme tier
>pros
Some people are stupid enough to believe it has value.
>cons
It doesn't have value.
>>1000745
and now to give the pope all of my money
>>1002251
How do you figure out what percentage of the economy a dollar is worth?
>>1002267
By letting currencies compete and letting the market set the relative value like any other commodity
