The purpose of a gold standard is to ensure that a currency has a fixed value,
WRONG sort of.
A Gold Standard Prevents GOVERNMENT FROM DEVALUING MONEY by limiting how much they can PRINT!
That’s the effect. The purpose is to stabilize the value of the dollar.
When the dollar was on the gold standard it was considered by far the most reliable and solid currency in the world. Everything was measured in terms of dollars.
Seems some of our peeps need a Constitutional refresher, mine doesn’t have a FED but Def gold and silver
Correct. It never ceases to amaze me how so-called conservative Patriots are dismissive of the gold standard, which, at the very least, helps curtail deficit spending by government, along with its inflationary side effects.
At same time, many accept fractional reserve banking, one of several "progressive" ideas that were fomented upon the American public a century ago. This also encourages excessive deficit spending by government. Other abominations include the so-called "progressive income tax" and inheritance taxes; all of the above are central planks of the Communist Manifesto.
And yet we have "Patriots" who not only tolerate these Tyrannical measures, but, incredibly, argue for their preservation as some kind of necessity of the "modern" era.