[zechariah]

Gold is dead, kid. Gold is dead.

Oh, so you are a socialist. I guess I suspected as much when I saw some of your responses in the GSE threads defending FNM. At least you are consistent: without nationalized money we couldn't have a nationalized financial system, nor is there any way we could continue to have nationalized schools, nationalized medicine, nationalized retirement, nationalized housing, nationalized farming, etc, etc.

Long Live Socialism!!

[z]

[AdamSelene235]

Oh, so you are a socialist.

No, strictly speaking I'd say he is a Conservative.

Conservatives believe the burden of proof should be on those who wish to change the status quo.

The status quo happens to be designed by Fabian Socialists but this is of little concern to Southack:He defends what he sees as a empiricially viable system.

[justshutupandtakeit]

No country has been on the gold standard for long. When they are recession is the inevitable result since there is insufficient metal supplies to provide for a currency which can expand with productivity and population growth.

Gold supplies shrink when in use as currency by about 2% per year just from wearing away. So old gold coins cannot be counted on to weigh what they are supposed to weigh.

Love of gold is just a supersition. It is not a viable currency as any real study of monetary history will show. No reputable thinker in this field wants to return to that mechanism.

If you prefer crackpots and know-nothings then nothing will help your understanding.

Socialism has nothing to do with the form of the money supply unless you change the definitions of words to fit your argument.