This is the core of the disagreement. With the gold standard, you can put your dollars in a vault and 100 years later your dollars don't lose as much value as they would with Fed management. (OK, we're not talking about what 100-year old mint-condition bills could fetch from a coin collector.)
Our point is that with Fed management there's a much better chance of being alive to open the safe, because the economy will have been so much more prosperous..
This is the core of the disagreement. With the gold standard, you can put your dollars in a vault and 100 years later your dollars don't lose as much value as they would with Fed management. (OK, we're not talking about what 100-year old mint-condition bills could fetch from a coin collector.)
Our point is that with Fed management there's a much better chance of being alive to open the safe, because the economy will have been so much more prosperous..
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Thanks, I am glad someone understands and can respond in an intelligent manner. As for the last part of your post I don't see how that can be proved or disproved, it seems to be purely a matter of conjecture to me. There is a broad range of opinion on the effectiveness of Fed management.