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Re: The Gold Standard 

By: nacl01 in 6TH POPE | Recommend this post (2)
Mon, 21 Aug 23 3:49 PM | 29 view(s)
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Msg. 45170 of 58589
(This msg. is a reply to 45162 by Decomposed)

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The United States had a gold based currency for a century and it prospered.

That is a rather simplistic view of the situation. They had a series of ‘financial panics’ during those years. This site: http://www.thoughtco.com/financial-panics-of-the-19th-century-1774020 recounts panics in 1819, 1837, 1857, 1873 and 1893.

I read the book, The Lords of Finance ( http://www.amazon.com/Lords-Finance-Bankers-Broke-World/dp/0143116800/ref=sr_1_1?crid=1TEOR1ZZ194KJ&keywords=lords+of+finance&qid=1692624411&s=books&sprefix=lords+of+finance%2Cstripbooks%2C144&sr=1-1 ) and they said that it was prosperous until the population rose enough to put a strain on the gold supply, then things got tight until another gold strike was found, although, at a quick glance I couldn’t see the correlation.

While I know our current path is leading to disaster, I am not sure gold is the ultimate solution.

nacl


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The above is a reply to the following message:
Re: The Gold Standard
By: Decomposed
in 6TH POPE
Mon, 21 Aug 23 5:42 AM
Msg. 45162 of 58589

Zimbler0:

Re: “Or will 'somebody' actually make a 'gold based currency' that will work?”
The United States had a gold based currency for a century and it prospered.






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