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MarchHare · 03-16-2012, 11:17 AM

I'm no economics expert, but if the US did return to the gold standard, wouldn't that cause massive inflation of the value of gold (or deflation of the value of the US dollar)? How does that solve any of the problems of using a fiat currency?

Besides, it's not like the US government is just printing more bills to service their debts (the Zimbabwe model). The gold standard would do nothing to prevent the government from financing present spending by issuing bonds or T-bills to be paid in the future, which is exactly what they're doing now.

[Edit]
I typed this post before Shawnski replied that he's not advocating for a return to the gold standard. Many of Ron Paul's supporters (and IIRC Paul himself) have argued for this action.

03-16-2012, 11:17 AM	#89
MarchHare Franchise Player Join Date: May 2004 Location: YSJ (1979-2002) -> YYC (2002-2022) -> YVR (2022-present) Exp:	I'm no economics expert, but if the US did return to the gold standard, wouldn't that cause massive inflation of the value of gold (or deflation of the value of the US dollar)? How does that solve any of the problems of using a fiat currency? Besides, it's not like the US government is just printing more bills to service their debts (the Zimbabwe model). The gold standard would do nothing to prevent the government from financing present spending by issuing bonds or T-bills to be paid in the future, which is exactly what they're doing now. [Edit] I typed this post before Shawnski replied that he's not advocating for a return to the gold standard. Many of Ron Paul's supporters (and IIRC Paul himself) have argued for this action. Last edited by MarchHare; 03-16-2012 at 11:21 AM.