Re: Explain to an idiot the benefits of going back to the Gold standar
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If there is to be a central bank then I would prefer them to be on the gold standard so that when they do get greedy or power hungry you can figure it out/point it out to everyone easier. Then they have to explain why they are breaking their promises to everyone.
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greenspan himself just said that if you have a gold standard you don't need a central bank.
basically the gold standard has the free market replace the central bank manipulation, not by manipulating the currency(gold), but letting the free market prices be manipulated (you know, which is good, by supply/demand) while the currency stays constant.
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