How come no country on earth is willing to adopt the gold standard in the modern day? It sounds amazing in theory.
>>73921861
>trading rocks
>IM NOT A NEO NAZI
>loved by neo nazi website /pol/
ok there ron
>>73921956
Gold is just used as a tool of measure.
On the gold standard you have to limit economic growth at some point
>>73921956
>trading cottonpaper and numbers on a computer
>>73922059
scissors
>>73921956
It sure does
>>73922016
A limited tool of measure and some people think that everyone should have equal everything.
>>73921861
Because the last time, the US cheated (how they could keep up with the USSR) and printed way too much dollar. They could import shitloads of bascially free goods and labour.
The US can do the same with oil though, but are restraining themselves from doing it, because they don't want the petrodollar-countries to pull out.
>>73922112
BAHAHAHAHA
>>73921861
Credit is better for growth, gold is better for stability. Neither is perfect.
Also, when everyone else is expanding wildly in a credit free for all, nobody wants to be sober. They want to sin and profit and then turn clean just before midnight.
>>73922095
War and the collapse of civilization
>"Hey buddy, I'll trade you that can of beans for all of my Bitcoins."
>>73922033
The gold standard doesn't mean you can't expand the monetary base, you can do it just fine through open market operations.
Because then you can't have infinite "economic growth" by inflating your monetary base.
>>73921861
because all the world's banks are owned by one family.
>>73921861
But Trudeauauauau traded all your gold as if it was worthless.
>>73922197
>credit is better than growth
Isn't it artificial growth? Like when people are buying houses, not living in them, and then selling them for a profit due to rising prices? No real wealth or goods/services is being created.
>>73921861
the reason we went off the gold standard is because there isn't enough gold and silver in the world which can equate to the quantities of money we need for a modern, globalized economy
staying on the gold standard is all great in theory and even in practice, but not when you reach a finite amount of those shiny metals. you get a very serious economic roof and I'm not just talking about exchange rates.
the main reason gold standard shills get their panties in a twist is because the USA went off the gold standard in a really dickish way which holds all other currencies hostage. the real issue isn't that the USD is fiat currency, but rather that we're holding all other currencies hostage as they're fixed to the USD. if the USD tumbles, so does everyone else. thus, everyone has an interest in seeing a strong USD.
the idea that we toppled Saddam or Gaddafi because of gold-backed currency is retarded. we toppled Saddam and Gaddafi in goofy bids to up-end dictators and install US-friendly countries. both Bush and Obongo fucked up big time.
>>73921861
>It sounds amazing in theory.
So does communism
It's easier to print money than it is to print gold
>>73923093
Yes, that's exactly the problem.
>>73922978
>infinite growth is attainable
Fuckin' retarded m8.
>>73921956
>trading paper
HURR PAPER BEATS ROCK
>>73923311
see
>>73922978
>>73923392
There's nothing there about infinite growth, but the limit to what gold can finance is pretty obvious
>>73923507
There are 7 inherent characteristics of money:
durability, portability, divisibility, uniformity, limited supply, and acceptability
>durability
Gold doesn't degrade and it is always salvageable even if it was used in alloys.
A gold coin will still be a gold coin in 1000 years, even if exposed to elements.
>portability
Gold is easily transported by any means
>divisibility
Gold is easily dividable into smaller quantities, that are defined by the law of gravity - weight.
>uniformity
It's easy to work on gold and make uniform coins or bars.
>limited supply
Supply is controlled by nature alone and is always limited
> acceptability
Gold is accepted in every place on Earth, from Seden to North Korea.
Any other currency on earth possesses from 3 to 5 traits of money and isn't really money.
Many currencies are partially based on gold and gold is held as monetary asset by many nations with valuations on their books.
>>73921861
>How come no country on earth is willing to adopt the gold standard in the modern day? It sounds amazing in theory.
there is not very much gold and silver in the world, and some of it must be used in industry such as electronics. You can't have funny money if you are stuck to a limited amount of gold and silver
>>73923392
I never said infinite growth was attainable, but thanks for putting words in my mouth. All I am saying is a major reason for abandoning the gold standard is that, simply put, there isn't enough gold in the world to back the kind of economy world which emerged in the late 70's and 80's.
>>73923507
It's not so simplistic as "let's just print all the money!" It's all about systems of value and Nixon did a fait accompli which made the USD the core economic value system in the developed world. It was smart because it gave us greater power in the international economic playing field, but it didn't really solve our depression caused by outsourcing and competing third world markets.
>>73922454
Well I tend to agree but in your own example a house was built.
Consider the defense of the Burj Khalifa. It cost a lot and created debt, but it also created permanent infrastructure, real estate and emergency shelter, which will eventually pay the debt off and meanwhile does yield very real value.
>>73921861
http://www.cnbc.com/2016/04/19/china-launches-yuan-gold-fix-in-bid-to-be-price-maker.html
http://www.zerohedge.com/news/2016-04-20/china-yuan-gold-fix-part-planned-shift-dollar-chinas-bocom
>>73921861
China is not a country?
>>73921861
the jews, its that simple
DEBASEMENT
What is China?
>>73921861
Good for the economy, but bad for governments that want to deficit spend. So long as huge nation states are around the resistance to specie currency backing will be huge.
I don't know goy
>>73921861
it is amazing IN PRACTICE AS IN THOUSANDS OF YEARS
enjoy your manipulated fiat money based on nothing but a jew bankers promise
>>73921861
Because if you try to do it then you end up like Gaddafi. Pic related.
>>73921861
Americans kill them if someone tries.
>>73921861
Economic arguments aside; gold, silver, and other metals that were previously just valued as bullion are used widely as industrial metals now. Their value fluctuates wildly, doesn't really sound like a good idea to peg the value of your currency to that.
>the money supply can't grow with a gold standard
When will this meme end?
>>73921861
To adopt now, they would have to amass trillions in gold.
>>73925966
>When will this meme end?
How is this a meme?
>>73922002
>the neo nazi website /pol/ boogy woogy man
/pol/ is not one person faggot
>>73923727
He isn't talking about development he is talking about leveraging housing market trends
>>73926342
The price of gold is just a measuring tool to see if inflation is under control, which you can use to contract or grow the money supply to keep a stable dollar/gold ratio. Gold reserves can function the same way as fractional reserve banking.
>>73921861
Basically, US currency used to be backed by gold and everything was fine for a while. Then foreign countries started trying to get back a bunch of gold in exchange for the US dollars they had, which wasn't so good since the people in power in the US didn't want to give up all the gold they rightfully owed to these foreign countries. So the obvious solution was to make it so the US dollar was no longer backed by gold, but in doing this, you'd make your currency worthless and become Weimar republic Germany tier with loaves of bread costing wheelbarrows full of millions of dollars. But fortunately, President Nixon had Henry Kissinger on payroll, and Henry Kissinger is one of the most brilliant Machiavellian evil geniuses in recorded history. And he has the bright idea to make an arrangement with Saudi Arabia where they have the US's military at their service to protect their interests internationally, and in exchange, Saudi Arabia uses their position in OPEC to make it so their oil can only be purchased by other nations if they pay in US dollars. This effectively replaces gold as the thing keeping US dollars from being worthless paper with oil, not by making US dollars backed by oil directly but instead by making it so that you need US dollars if you want to purchase oil. And in doing this, the US dollar is kept safe from inflation since no matter how many dollars are printed they're still valuable due to the need all nations today have for massive quantities of oil to keep essentially their entire social infrastructure from collapsing. This effectively exports inflation and its negative effects out to other nations.
Because tying the value of money to shiny rocks is completely arbitrary.
Because the gold standard reduces flexibility in changing the money supply which most countries don't want to do.
>>73927776
But gold isn't just a shiny rock my friend.
It has intrinsic value that is very high. It is irreplaceable in a number of technical and industrial applications. It is difficult to extract and expensive to process.
Gold Standard a shit.
What you need is to use actual gold as the only money for transactions.
>>73927776
>Because tying the value of money to shiny rocks is completely arbitrary.
Unlike printing as much money as you want.
Kings fight over gold with stolen peasant lives.
Peasants who earn their way into owning gold get their doors kicked in by the local barons (mayor's thugs, mafia, Mr. Burns; it's all the same shit.)
Stolen credit cards can be disputed. Stolen gold can only be stolen back.
>inb4 neckbeard swordsmanship fantasies
>>73928712
I am now a #FiatMissile
Why is economic growth good? What's wrong with just being stable?
>>73921861
>>73921956
Trading paper
>>73921861
Gold standard is a meme and is inferior to fiat currency.
Current monetary policy is retarded as it allows private interests to control the issue of money.
>>73921861
because the rothschilds already have enough of it to be able to manipulate it like any other currency.
https://www.youtube.com/watch?v=UrJGlXEs8nI
