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> Historically Fiat currencies are awful Fiat has ushered in an absolutely amazing period of global growth that has made us unbelievably wealthy. But there is

> Historically Fiat currencies are awful Fiat has ushered in an absolutely amazing period of global growth that has made us unbelievably wealthy. But there is inflation, so why not go with the thing that has no history?

mkirklions 8y ago
We've had gold, and it was a massive equalizer between major powers. If someone overspent, they had to be smarter until they regained their wealth. Inflation has destroys savings for the masses who keeps cash more than investment. We've seen this a half dozen times in the last 100 years.
- spookthesunset 8y ago
  > We've had gold, and it was a massive equalizer between major powers. The gold standard was one of the worst fiscal policies ever. Its use was directly responsible for the destruction of millions of lives. Arguing to bring it back shows incredible nativity and a severe lack of history. I suggest you read up on how horrible of an idea the gold standard was before you spout this kind of nonsense.
  - mkirklions 8y ago
    > Its use was directly responsible for the destruction of millions of lives. Oh please, war happens for land, population, and resources. Gold is one of the resources. Anyone want to send this kid the link to 'We invaded Iraq because Saddam wanted to use Euros/RMB to trade oil?'
  - ric2b 8y ago
    > I suggest you read up on how horrible of an idea the gold standard was before you spout this kind of nonsense. Can you propose some reading material?
- spankalee 8y ago
  Inflation values future work over past work. It's not inherently bad.
logfromblammo 8y ago
"Us"? Who, exactly, is "us"? Since around 1980, all the "amazing global growth" has largely gone to those who own and hold financial instruments, while those who make and those who serve have just been treading water all this time. I can't imagine how unbelievably wealthy I would feel if my class's wages had risen commensurate with increases in productivity, but I certainly don't feel all that rich now.
- astrodust 8y ago
  American wages have been stagnant. Meanwhile the rest of the world has been industrializing. I'm sure it's just a coincidence but the 1980s was the beginning of the "off-shore everything" trend.
  - logfromblammo 8y ago
    And yet social mobility has also been stagnant in the developing world for the last 30 years. So offshoring made a few people outside of W.Europe/US more rich in the 80's, but then the party was over for them, and it was back to the wealthy class sucking up all the excess production, everywhere.

mkirklions 8y ago

We've had gold, and it was a massive equalizer between major powers. If someone overspent, they had to be smarter until they regained their wealth. Inflation has destroys savings for the masses who keeps cash more than investment. We've seen this a half dozen times in the last 100 years.

spookthesunset 8y ago
> We've had gold, and it was a massive equalizer between major powers. The gold standard was one of the worst fiscal policies ever. Its use was directly responsible for the destruction of millions of lives. Arguing to bring it back shows incredible nativity and a severe lack of history. I suggest you read up on how horrible of an idea the gold standard was before you spout this kind of nonsense.
- mkirklions 8y ago
  > Its use was directly responsible for the destruction of millions of lives. Oh please, war happens for land, population, and resources. Gold is one of the resources. Anyone want to send this kid the link to 'We invaded Iraq because Saddam wanted to use Euros/RMB to trade oil?'
- ric2b 8y ago
  > I suggest you read up on how horrible of an idea the gold standard was before you spout this kind of nonsense. Can you propose some reading material?
spankalee 8y ago
Inflation values future work over past work. It's not inherently bad.

logfromblammo 8y ago

"Us"? Who, exactly, is "us"? Since around 1980, all the "amazing global growth" has largely gone to those who own and hold financial instruments, while those who make and those who serve have just been treading water all this time. I can't imagine how unbelievably wealthy I would feel if my class's wages had risen commensurate with increases in productivity, but I certainly don't feel all that rich now.

astrodust 8y ago
American wages have been stagnant. Meanwhile the rest of the world has been industrializing. I'm sure it's just a coincidence but the 1980s was the beginning of the "off-shore everything" trend.
- logfromblammo 8y ago
  And yet social mobility has also been stagnant in the developing world for the last 30 years. So offshoring made a few people outside of W.Europe/US more rich in the 80's, but then the party was over for them, and it was back to the wealthy class sucking up all the excess production, everywhere.