What is the Gold Standard? - Learn Liberty

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1. That's how the elite control this society. All this money is completely worthless. It's backed by nothing. Complete illusion.
2. without question gold is more stable and less prone to negative inflation than what we have now (I say negative because inflation itself is not necessarily a bad thing when it is equal to demand for goods and services, which explains why some like a fractional reserve system although....)
   
   The problem with gold standard is the same problem with our current monetary system - it relies on government intervention and regulation. I'm pretty sure one of the main kickoffs for leaving the gold standard in the US was upon the arrival of new gold from Europe the currency did not inflate even though this new gold represented new productivity - what ensues is there's not enough money to circulate this productivity and both Europe and US fall back before the productivity line of the new gold.....All a failure of central bodies and authorities - trusted to run it all
   
   Right now you can redeem your money for gold - it's called buying gold. The problem is taxation, being taxed on anything is perverse and taxing on gold is criminal. But the smart will purchase gold with their money to hold value and liquidate it when necessary.
   
   A gold standard is moving away from liberty not towards it. We do not require some national currency or centralised body - multiple competing currencies, especially crypto currencies gives all the benefits of fiat and gold while (in the case of bitcoin) throwing off the negatives. Let there still be a dollar just let that dollar compete with everything else - and keep the governments dirty little fingers off of my gold - don't forget that all a gold standard really is is the government price fixing gold, how does price fixing ever work out - also currency itself is a commodity should we judge the price of milk by the price of eggs and does it really provide any stability? I guess for those that partake in both milk and eggs on a regular basis.
3. Btw do you know where I can find graphs supporting the gold standard stability, I need it for a school project.
4. Wouldn't the limited money supply because of the gold standard prevent the fed from giving below market level interest rates which caused banks to keep borrowing without control and yet that didn't happen?, is there something I missing?
5. I just have a question, what about the Great Depression where years before fdr took us away from the gold standard we were already having money supply and inflation problems due to low interest rates?
6. Jesus Christ, the gold standard is like the creationism of libertarian lunatics at the mises institute.
   
   Poll after poll given to the top economists from both sides of the political spectrum from every major university show that there is almost unanimous agreement amongst economists that returning to the gold standard wouldn't fix any of the price stability problems we already have.
   
   The Gold Standard won't fix inflation. Look at CPI charts from the early 20th century.
7. wouldn't the economy fluctuate erratically since gold is traded globally now?
8. Gold standard makes sense to me
9. Libertarians truly are idiots if they think returning to the gold standard would help the free market: it would destroy it but making capitalization almost impossible.
10. Isn't there a way to combine both the gold standard and the fiat system?
11. It's hard to take a video seriously when the lighting is so awful.
12. learn more.
13. people keep saying that the economy would be unstable and cite 19th century depressions and recessions as an example
    
    but what they flat out IGNORE or DON'T TELL YOU is that government intervention actually plagued the 19th century economy, look up: "how government intervention plagued the 19th century economy" to learn more
14. There is about $7.8T worth of gold in the world. There is about $5T in coins and currency notes in the world. There is about $199T in global debt. Debt certificates circulate as currency bills do. The printed certificates pass through various hands in exchanges for consideration, each one functioning exactly like printed money or gold coins do, as representation of value that is believed to exist, but that value is meaningless to the exchanges. It is called the money supply. .
    
    These assholes don't even know what they are talking about. If it were up to them, they'd tie the world's economy to a commodity that has a total value of a little less than 4% of all the money circulating in the world.
    
    This they tell you would fix problems that in turn they don't understand either.
    
    Can you say, "Gormless dumbfucks?"
15. The gold standard wasn't just abandoned because the state could accumulate more power you fucking conspiratard. For one, it prevents the central bank from fighting recessions by outsourcing monetary policy decisions to how much gold we have. for two: Gold mining is very inconsistent (causing monetary value to fluctuate) and with the current populations, not only would it cause a shit ton more pollution but the amount of gold required would bankrupt us. Three: currency doesn't stack with the value of the materials in it. Using a gold standard, there would be hundreds of million of people with tons gold change. Not only would this devalue the material itself, but we could be producing the currency at a hefty loss. Lastly: Virtually no economist recommends the gold-standard to be re-introduced. it''s less than the amount of scientists who recommend creationism over evolution.
    Sources: http://www.theatlantic.com/business/archive/2012/08/why-the-gold-standard-is-the-worlds-worst-economic-idea-in-2-charts/261552/
    http://investorplace.com/2012/09/7-logical-reasons-a-gold-standard-is-the-worst-idea-ever/#.Vxb_SnqN6HM
16. My biggest question about the gold standard is what happens when your money exceeds your gold in value. In other words what would happen if, hypothetically the world had $50 billion dollars of gold and $100 billion dollars of fiat/paper money. The only thing I can think of is to artificially redefine the value of the money and/or gold as needed, but if we do that then the value of money and/or gold doesn't mean anything because then the value could just be redefined and changed on a whim and we could run into problems trying to keep up with dramatically shifting values for both money and gold. I hope my question makes sense and doesn't just seem like incoherent nonsense.
17. Which nations in the world today utilize the gold standard? NONE. Why did every country in the world leave the gold standard? Because it lead to an inadequate money supply, meaning if you wanted to buy property or start a business there was no capital available for you to borrow. The consequence was economic stagnation. And yes, stagnation does a wonderful job constraining inflation.
    The gold standard also delayed recovery from the world wide depression of the 1930s. Other countries that had left the gold standard recovered more quickly.
18. I have heard it said that, the reason why the dollar has yet to collapse, is because of monetary policies. It is said that, because of the global market, for trading currencies, confidence in the dollar is what keeps it strong. Thus, the gold standard is irrelevant. Can someone help me understand why this may or may not be wrong?
    
    Thank you
19. Ordered to turn in their gold? Please, say more!