Modern economics is a boondoggle. People create Debt and think they are creating Money and/or Wealth.
I would prefer currency backed by precious metals.
Or goats.
If obummer was in for another four years i would be more concerned. Lets five trump a chance. He must know we need a standard.
The gold standard would greatly limit the power of central banks to create money. The deluge of cheap fiat money since Nixon dropped the gold standard has been a boon to global economics. But, as fiat money has no inherent value (only the value that someone will accept it in exchange for goods and services) some day the piper will have to be paid. While I theoretically support the gold standard, I think it’s too late. Imposing it now would crater the global economy sooner rather than later.