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Message
re: Three Congressmen Introduce Gold Standard Bill to Stabilize the Dollar's Value
Posted on 4/6/23 at 12:26 pm to GumboPot
Posted on 4/6/23 at 12:26 pm to GumboPot
Not a terrible idea in the long run, even though there will be years of economic turmoil before things straighten out.
The status quo of valueless currency isn't working. It's really time to think outside the box
The status quo of valueless currency isn't working. It's really time to think outside the box
0
Posted on 4/6/23 at 12:30 pm to SlowFlowPro
quote:
If you want USD to be replaced as the world's reserve currency, this is the way to do it.
If you don't want the dollar to be replaced as the reserve currency, you better figure something out that's better because as of right now, it's happening.
Posted on 4/6/23 at 12:34 pm to GumboPot
quote:
“A gold standard would protect against Washington's irresponsible spending habits and the creation of money out of thin air,"
How will this keep us from threats of default and financial ruin everytime we get close to crashing into the *ouch* debt ceiling?
Posted on 4/6/23 at 12:40 pm to tarzana
quote:
How will this keep us from threats of default and financial ruin
It would put caps on congressional spending so we would not crash into the debt ceiling.
This will never pass though. With a commodity based currency the Federal Reserve would not be able to pursue their stated goal of 2% inflation per year. A commodity based currency would be great for the middle class, savers and retirees but would suck for Central Bankers and Wall Street.
Posted on 4/6/23 at 12:46 pm to GumboPot
I guess we’re all allowed to dream!
Posted on 4/6/23 at 12:51 pm to GumboPot
Would probably frick the stock market hard with recurring panics....not to mention foreign investment fleeing
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