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True, wages haven't kept up with inflation that resulted from foolhardy monetary policy. Mandating increased wages is a bandaid on a gushing wound. We cannot
by tastyfreeze 6y ago
True, wages haven't kept up with inflation that resulted from foolhardy monetary policy. Mandating increased wages is a bandaid on a gushing wound. We cannot continue debasing our currency and hope it makes a robust economy. A thriving economy requires a stable currency. Fiat by its nature is unstable.
- foobarbecue 6y agoGold was even less stable.
- tastyfreeze 6y agoThat is false. Over the long term the value of a full reserve gold backed currency is stable. When politicians print more money than they have in gold is when things start to go wonky.
- foobarbecue 6y agoI'm referring to the wild historical fluctuations in gold price that happened every time there was a gold rush, war, and / or run on gold.