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To: rabscuttle385

Except not everybody wants to carry gold.


10 posted on 11/29/2008 12:08:38 AM PST by wastedyears ("Al Gore is an apostle of arrogance." - Vaclav Klaus, Pres. of Czech Republic)
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To: wastedyears
Except not everybody wants to carry gold.

They wouldn't have to. A gold standard simply means that whatever currency you have is fully redeemable in gold (or silver). You'd still carry paper bank notes and credit cards.

16 posted on 11/29/2008 4:18:41 AM PST by SeeSharp
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To: wastedyears

You don’t have to carry gold under a gold standard. You carry around paper receipts redeemable in gold. That’s what the dollar originally was. It was a weight of gold, equal to about 1/20th of an ounce. (Way back when the dollar was actually an ounce of silver)


22 posted on 11/29/2008 7:25:27 AM PST by djsherin
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