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Steve Forbes: Link dollar to gold or face Great Depression II
- bediger4000 12y agoI risk circularity here, but... Does anyone other than cranks believe that we should go back to a gold standard? Have we considered going on a silver or platinum or rhodium standard? And a serious question: why should any country link its money to quantities of precious metal? I mean, don't we have to adjust the amount of money in circulation to account for the greater value of stuff we've made since last year? I mean, sure, we drank all the booze we made last year, but we've turned wood into furniture, iron into buildings, brake presses, ships & etc, and we've mined a lot more copper, tantalum, gold, silver and platinum. We've got a lot more valuable stuff lying around. Don't we need more money this year than last year? And don't we need to adjust the amount of money in circulation to account for things like wars and natural disasters, where everything gets turned into rubble and we've got a lot less stuff than last year?