No. You have to lose ALL OF IT. Forget the gold. Gold backing is a fiction anyway. The real determination of money is the Big Mac Index. You want to know what money, any money, anywhere, any time, is worth. Look it up on the Big Mac Index. McDonald’s puts a lot of work into making sure a Big Mac costs a certain amount of the average labor of a person in the region.
And you’ll never prevent inflation or the welfare state. We were gold backed during the depression. It prevent $#%^ then and wouldn’t now.
“We were gold backed during the depression. It prevent $#%^ then and wouldn’t now.”
Actually, it did prevent a depression. The Great Depression was not caused by inflation, but by socialist programs FDR and his fellow socialists created. Even the stock market corrected quickly, within days, but the socialist programs were meant to create a dependent class of poverty stricken people.
Don’t blame gold for the depression, it did its job just fine.
“McDonald’s puts a lot of work into making sure a Big Mac costs a certain amount of the average labor of a person in the region.”
Really? McDonalds should set the value of our currency?? Wow, you really do not understand the purpose of currency.