hackwrench:"the gold standard was generally a bad idea, keeping gold from other purposes."
I think you meant to say that the gold standard was generally a good idea, keeping politicians from manipulating the value of money. Other than that, thanks for the link.
unless it's tied to something tangible like gold....
Giving the government that power allows them to "pay less" (a frequent occurence) for debts, thus basically ripping off creditors. (such as people holding govt. bonds)
Right, but the fluctuation is do to the aggregate of the market, rather than the whim of a politician.
I didn't mean to imply it would stop any inflation at all, only that the inflation wouldn't have to be "controlled" as it is now.
Necessary gold standard link (Score:1)
By the way, the gold standard was generally a bad idea, keeping gold from other purposes.
Re:Necessary gold standard link (Score:2, Informative)
I think you meant to say that the gold standard was generally a good idea, keeping politicians from manipulating the value of money. Other than that, thanks for the link.
Except for one thing... (Score:1)
Re:Except for one thing... (Score:1)
Giving the government that power allows them to "pay less" (a frequent occurence) for debts, thus basically ripping off creditors. (such as people holding govt. bonds)
I don't see. (Score:1)
Re:I don't see. (Score:1)