[Travis McGee]

Inflation or deflation are your two alternatives, when you have ruined your underlying economy with endless fiat money.

Exactly. There is no inflation or deflation under a gold or silver standard. LOL!!

There are always fluctuations in any market economy, and always will be. But only the infinite printing of worthless unbacked fiat money (as we have done since Nixon closed the gold window in 1971) leads to totally ruinous collapses, leading to mass starvation, bloody revolution, civil war and dictatorship.

For example, I'd say the USA did pretty well across the span of the 19th century, under a gold backed currency, wouldn't you? All in all?

Say, compared to France in the 1780s, or Germany in the 20s? Or what is going to happen to the USA?

[Toddsterpatriot]

But only the infinite printing of worthless unbacked fiat money

Gosh I knew the Fed was powerful but I didn't think they printed an infinite number of dollars.

For example, I'd say the USA did pretty well across the span of the 19th century, under a gold backed currency, wouldn't you? All in all?

Yes, the USA did very well in the 19th Century under a gold backed currency. I wonder how much gold they needed to back our currency in 1800? In 1900? I wonder how much gold they would need in 2005?

I guess if you don't mind spikes of inflation and deflation like we had in the 19th century gold could be dandy.

[expat_panama]

I'd say the USA did pretty well across the span of the 19th century, under a gold backed currency, wouldn't you?

No, and fortunately most people feel the same way.  Pegging money to gold gave us worse inflation than we've ever had with the Fed.   Even that wouldn't have been so bad if the gold currency would've just settled down to one of it's 25%/year peaks.  No such luck.  It would loop down to over 10% deflation for a couple months and then back to double digit inflation.

Truly idiotic.