“The Gold standard (gold backed currency) would remove the Gov’t from being able to inflate the money supply. What you would be able to actually purchase would increase.”
And how do you deal with a growing population? As the population grows with the money supply held constant, then the amount of money goes down on average. A ‘dollar’ might buy more but you’ll, on average, have fewer ‘dollars’.
And how do you deal with a growing population? As the population grows with the money supply held constant, then the amount of money goes down on average. A ‘dollar’ might buy more but you’ll, on average, have fewer ‘dollars’.
Yes, and you will need fewer dollars since that dollar can buy more.
The issue isn't the quantity of the money, it is purchasing power of the dollar that matters.
The value of a dollar backed by gold or silver was and would be much more stable than one backed by politicians. You seem to believe that all the gold on earth has been mined and that there can be no more. In fact, what happens is that as the value of gold increases, it becomes more attractive to mine some more, and so the supply increases. Gold really is little different from any other commodity in this respect.
ML/NJ
Compare population growth with increase in mined gold.