Re: Explain to an idiot the benefits of going back to the Gold standar
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The "gold standard" was abandoned because the gold supply does not grow at a fast enough pace to keep up with the growth of the economy. It is therefore inherently deflationary, and economically unsustainable.
q/q
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At this point I think I'd probably rather see deflation than inflation for a while. Why is deflation more evil than inflation?
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John,
Check the link I posted earlier on in this thread, it addresses this issue.
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