| But by abandoning the gold standard and not coming up with anything concrete to replace gold, we effectively said our currency is no longer tied to anything tangible of any value, so only faith in our leaders managing everything keeps it afloat.
| IMO, that's proven to be a terrible fiscal policy
Monetary policy, not fiscal policy.
| -- as we saw with the Federal Reserve running out of techniques or ideas to control things during the last economic crash.
To the contrary, the Fed employed a large variety of new techniques.
| Interest rates were dropped to near 0% and none of the decreases were having the expected/desired effect on the economy.
To the contrary, they had the expected effect. The european central bank stayed more orthodox and less accomodative, and their recovery has been weaker and later, to the degree that their interest rates and growth is still extremely low and the US Fed is on a path of rising interest rates thanks to an economic recovery, far lower unemployment, higher output, and still moderate inflation.
Ben Bernanke is the best Fed Chairman in the history of the institution.