I understand what you mean, but it would be beneficial for the economy long term, no? I’m not an economist. I’m just genuinely curious if it would be beneficial. Trump seems to be doing all of the right things for the economy, and I understood that the economy was more stable under the gold standard. Am I misinformed?
There was a time when the wealth of nations was in gold and gems. That’s not the case in the modern economy. The wealth of our nation is in our economic activity. I’m not for printing money just because we can, but going back to a gold standard where we stockpile physical, non-productive assets doesn’t make sense either.
I’d simply like to see fiscal restraint and living within the bounds of Constitutional authority. Do that—and repeal the 16th & 17th Amendments—and I’ll be happy.
Prices were more stable, the economy was not. The 19th century featured very regular crashes, panics and crises on the gold standard. And with no way to cushion the fallout because there was no fiat money. Most of the 19th century, aside from the Civil War years, the US was in deflation.