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<p>[QUOTE="medoraman, post: 3713119, member: 26302"]And some would point out the hundreds of billions in lost economic growth per year lost tying an economy to some random commodity. There are so many recessions and depressions tied to shortages of gold through history as to not be countable. Why should your paycheck go down 10% because a major mine ran out ore? This is a very likely outcome if our economy was tied to some metal.</p><p><br /></p><p>Yin and yang. Not enough people talk about how much poorer all of us would be under the gold standard, but talk a lot of (real) things like avoiding Zimbabwe, Hitler, Communist Russia, etc. To me the answer is leave the economy on fiat money, and take some of that and convert to storable commodities.</p><p><br /></p><p>The whole argument why a commodity cannot be money I won't get into.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 3713119, member: 26302"]And some would point out the hundreds of billions in lost economic growth per year lost tying an economy to some random commodity. There are so many recessions and depressions tied to shortages of gold through history as to not be countable. Why should your paycheck go down 10% because a major mine ran out ore? This is a very likely outcome if our economy was tied to some metal. Yin and yang. Not enough people talk about how much poorer all of us would be under the gold standard, but talk a lot of (real) things like avoiding Zimbabwe, Hitler, Communist Russia, etc. To me the answer is leave the economy on fiat money, and take some of that and convert to storable commodities. The whole argument why a commodity cannot be money I won't get into.[/QUOTE]
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