What happens if you don't print more money, yet your population doubles and the amount of goods per person doubles? Massive deflation. You need to print some money to provide for population growth and the growth in the supply of goods.
"Having no standard is manipulative.
Anything you do or don't do is "manipulative", so unless you have a more specific beef, so what?
"China already holds most of the US debt and they already have a say and that is manipulative."
No China doesn't hold most of the US debt. The U.S. is the largest holder of U.S. debt. And Japan holds almost as much as China.
China doesn't have very much say. That's why they are whining all over the press about QE2. And claiming they are going to start another world reserve currency.
But you know what? There is nothing stopping China from investing in other country's currency, or even a basket of currencies. They hold the U.S. currency because they want to. China is a little scared that we are going to monetarize the debt and leave them holding worthless paper. It's not in our interest to do that, but it is in our interest to fix the trade issues with China. A undefined consumer "basket" that has no proportion or size or set contents is manipulative. Utah is already considering returning to the gold standard, as discussed in the Fox News article posted on Free Republic. Other states in the US may be considering following suit. Consumers want the FED to be accountable and that includes being accountable in its monetary policy standards which would include defining and measuring the US dollar.
Good clear expression of your assessment.
Thanks.
What do you think of the Pentegon assessment that we are subject to a Sovereign fund being able to kill our currency by dumping our T-Bonds. G. Beck and others have cited this report that came out with little fanfare.