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Comment Re:This guy is a conspiracy theorist (Score 1) 514

First of all, finance isn't a close partner to economics. Fiat currencies allow non-market entities to regulate market economies. Without an "artifical" currency (not that gold is any less artificial, it's just a finite shared delusion) there is no (or very little) room for long-term actors to intervene in short-term crises. With a gold standard, one rich person can control an improbably large percentage of the (finite) money supply. Or a million individuals can simply hoarde their money, reducing the supply in circulation, and the government has no easy way of resolving it, short of revaluing the currency which makes a gold standard into a slower fiat currency. Sure, fiat currencies can get governments into trouble (i.e. Zimbabwe), but gold standards can, and have gotten large economies into trouble, namely us in 1929.

"The hands that help are better far than the lips that pray." -- Robert G. Ingersoll