The Federal Reserve: love it or hate it

[DcifrThs]

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Good idea but not executed too swell.

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wholeheartedly agreed [img]/images/graemlins/frown.gif[/img]

the conversation in the politics forum is interesting though [img]/images/graemlins/smile.gif[/img]

Barron

[spider]

Poll needs option to choose gold standard!

[r3vbr]

If dollars were based on gold, the supply of gold would not nearly be able to keep up with demand, and price of gold would soon skyrocket way beyond it's intrinsic value (wich it arguably already has at 700$ an ounce), and the situation would be the same as it is today (being that money is just faith in the government that it will somehow make this piece of paper be able to buy you goods in the future).

I think money should not be a "voucher for a certain weight in gold", it should be a voucher for a basket of commodities. Take everything traded at the CBOT and give it equally distributed weight in a standard "basket" of goods and 1 dollar should be equal to 1kg of that basket, or something like that.