Are you saying that we can have inflation or deflation under the gold standard?
If technology and efficiency improve, more goods can be produced at a lower real cost.
You're not confusing increased productivity with deflation, are you?
And that is assuming that market forces do not encourage gold & silver exploration and mining to ramp up to meet demand.
That's just what our economy needs, more resources diverted to mining a pretty yellow metal.....because it's MONEY!
“Are you saying that we can have inflation or deflation under the gold standard? “
No, I’m saying that the real standard of living of the middle class goes up under a gold standard. Only the real standard of living (and number) of banksters should go down.
“That’s just what our economy needs, more resources diverted to mining a pretty yellow metal.....because it’s MONEY!”
You’re right, more resources should be diverted to banking and toxic waste financial products, because production and manufacturing are such a waste of time. Why drill for oil, we’re only going to BURN it?!!