[Toddsterpatriot]

LOL! Except for the ones that exist today.

Exactly. The gold standard worked so well that no one uses it anymore.

[theBuckwheat]

>>
Exactly. The gold standard worked so well that no one uses it anymore.
<<

The gold standard has its own problems, not the least of which is that there is far too little gold to ‘describe’ today’s actual money supply. To put it another way, if the US were to convert over to a gold-based dollar, the price per ounce would have to dramatically rise from today’s $650-700 range to several thousand dollars. The public would not accept that a few people who were smart enough to hold gold today would be the beneficiaries of such a happenstance gain.

[Fan of Fiat]

I find the "Every central bank/fractional reserve banking system has eventually failed" statement to be one of the more annoying goldbug uses of circular logic.

Every central bank / fractional reserve banking systems that hasn't failed will fail, because all those that have failed, failed.

Huh?