[fortheDeclaration]

If gold “was” money, the expansion of the currency would be determined simply by how much was dug out of the ground. Not enough and we get deflation. Too much and we get inflation.

If you had gold backed money you would have a stable currency which the government/Fed would not be able to manipulate.

The value of gold would adjust to reflect general prices.

[Sherman Logan]

The value of gold would adjust to reflect general prices.

True, if the amount of gold increased in close tandem with the total amount of goods and services.

If not, then either inflation or deflation would occur, possibly severe.