Re: Explain to an idiot the benefits of going back to the Gold standar
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what I mean is that if suddenly the world went to a gold stanard, gold would suddenly change in worth from X, to X*Y, it would increase.
what you're saying is that for the value of gold to keep it's current worth and still go to a gold standard, we would need more of it, about Y times as much of it as we have.
I think so, right?
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Yes, keeping in mind that since "the world" will never go to a gold standard and you presumably want to do it unilaterally, Y is several times more than it otherwise would be.
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