Terrific, tell me who is on the Gold standard right now? And how that is working for them?
Which countries have any desire to go back to it? There are a lot of countries, if it was so wonderful you’d think at least a few major countries would be interested.
Which countries went fiat and then back to the gold standard in modern history?
Wasn’t the last country to even consider this Switzerland which roundly rejected going back to the gold standard after having gone fiat in 1999.
The trouble I have with gold bugs and anti fiat folks isn’t that they can’t make good, or at least interesting arguments, its the bizarre conspiracy theories that they inevitably bring with them. I know some very intelligent anti-fiat people but they always seem to buy into outlandish conspiracies to explain why the “evil” central banks won’t listen to them (not saying you believe these things, just that this is what I experience talking to anti fiat types). Some of these crazy claims are believing the entire banking system is some Jewish conspiracy, that NATO is the most evil organization in the world, that we (the West) attacked Libya because, they claim, it was threatening to go back to a gold standard, etc. I mean, I see this stuff on ZH and places like InfoWars and for me it really makes the anti-fiat people look.......well.....pretty much insane.
Eventually, every fiat currency is inflated out of existence, because the purpose of fiat money is theft.
The sneering and smearing (gold “bugs,” “conspiracy theorists,” “barbaric relic”) continue until the fiat money is, as I said, useful only for papering shacks and burning for heat. That day always comes.
IIRC, the United States, after the Civil War.