[MrMon]

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I'm sure the usual gang will chime in, but you're basically correct. Hard money/no inflation is great if you have money, it sucks if you don't, as credit markets pretty much dry up. Ours is a credit based economy.

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There are limited resources in the world. How do your "credit based economies" account for this?

Also "credit based economies" are only useful so far as they have credit. Therefore, if they practice what you preach there will eventually be a huge spike in interest rates, as the country consumes more than they have, and lenders become aware and demanding.

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..and were pretty much decided in favor of the soft money faction. The hard money faction does have a point, the value of money does decline over time, but the consequences of hard money are pretty harsh as well, and the world has decided that the downside of soft money is the lesser evil.

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Care to make a stronger point for a statement deserving as much?

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The fact that every economy in the world operates on a fiat money system. If hard currency is such a good idea, why does no one use it anymore and also kick the rest of the world in the butt with their stellar economic performance?