[chuck_the_tv_out]

“purchasing power of the dollar over the past 76 years has declined by 94%”

but the purchasing power of each American over the past 76 years has increased by ????%? 1000%?

I’m not convinced by anti-fiat people. It would seem to be a conservative point, but I’m convinced there’s a more interesting and pragmatic point to be had there somewhere. If America had been on the gold standard, the Nazis would currently own Europe. There’s a lot of interestinfg points to be made. Of course, people who have all their savings in gold don’t like people saying things like that

[Ev Reeman]

As soon as Obummer won the election was inaugurated and started speechifying and following through with his far left ultraliberal agenda and policies I knew it was only a matter of time for the dollar to go the way of the dodo. I still can’t believe the American people voted for this clown after all, all the warning signs were there, big red flashing lights and the American people just ignored them. Well now you’ve got your consequences America and if our country somehow manages to survive to the 2010 elections I will consider it a matter of sheer luck.

[DeLaine]

If America had been on the gold standard, the Nazis would currently own Europe.

Why do you say that? We were on the gold standard (back then) Explain to me please.

[aruanan]

but the purchasing power of each American over the past 76 years has increased by ????%? 1000%?

This is true. People now are able to purchase much more with their earnings from a hour of work than they were able to back in the 1950's. A dollar now may purchase less than a dollar did in the 1950s, but this would have relevance only if people now got the same number of dollars for a hour of work that they did in the 1950s.

[Leisler]

"If America had been on the gold standard, the Nazis would currently own Europe

If Hitler didn't print money, backed by printed bonds, he wouldn't of been able buy off the German citizens, unions and large manufacturers and maintain political support( sound familiar? )

However by 1938, American and other bond holders were not accepting repayment in Nazi fiat money because of massive printing and devaluation, and Hitler was coming up to a repayment disaster which would of followed by massive German financial collapse. So, he started the war a good 3-5 years earlier than he or his Generals wanted.

[hosepipe]

[ If America had been on the gold standard, the Nazis would currently own Europe. ]

Prove it...

[DesertRhino]

I dont agree that WWII required a dollar not based on gold. We are talking the value of money. Creating fiat currency doesnt magically make money. It simply makes it easier for the government to take it through devaluing inflation. Taxes could have accomplished anything that inflation did.

Futhermore, say you are correct and im wrong. Couldnt it still have been done as a war emergency? Even if it was the only way to win WWII, why on earth was it required to continue forever?

A high end Colt 1911 .45 cost a little less than 20 dollars in 1912. Today the same pattern gun, Kimber or Colt, will be around 8-900 bucks. The old story is that a 20 dollar gold piece would still buy either. A 20 dollar bill from 1912? You need enough of em to come up with the 8 or 900 bucks requierd today. Heres the point of gold. The pistol still costs the same, the money is losing value.
What will a colt cost in 2112? 50,000 dollars??? Where does this stop? Will we get a Zimbabwean dollar to go with our Kenyan president?

[Kozak]

If you look at the chart, it appears we have done BETTER off the gold standard then on it. Less decline since ending Bretton Wood. Not exactly what they want to convey....

[M-cubed]

If America had been on the gold standard, the Nazis would currently own Europe <<<

....and if Pearl Harbor wasn't manufactured...we'd all be speaking german....

(I have some mixed views on this too )