posted on Sep, 3 2018 @ 11:15 AM
a reply to: CB328
To me the gold standard is no different than fiat paper currency. You're simply setting an arbitrary value for a shiny rock instead of paper.
Imagine what would happen if we discover gold on another planet. The finite amount of gold which gives it the supposed value it has would be greatly
The gold standard puts all the power in the hands of those who possess the majority of gold. Those who control the current fiat currency would still
control a gold backed currency so the power structure wouldn't be changed in the slightest. All the same problems would exist that exist today.
In a SHTF scenario neither paper nor gold will maintain any value as consumable commodities would be the true form of currency in a catastrophic
situation. If we want a currency backed by something tangible it makes much more sense to fix our currency rate to some consumable commodities rather
than a rock. If SHTF your money would at least be exchangeable for something of real value.
edit on 3-9-2018 by Isurrender73 because: (no reason given)