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<p>[QUOTE=&quot;GDJMSP, post: 89761, member: 112&quot;]Cloud - </p><p><br /></p><p>You mention open minds - I have always considered myself to be one with an open mind. Do you ? I have always chosen to examine all sides while keeping an open mind before making any decision as to which side I agree with. Even after reaching my decision, I still keep an open mind for the examination of additional information. Do you ?</p><p><br /></p><p>It seems to me that the point you, and those in favor of using the gold standard, are missing is that there is a very distinct and fundamental difference between a nation, or group of nations, using gold &amp; silver coinage in circulation as money - and a nation being on the gold or silver standard. They are not the same thing - and both have their own unique set of problems.</p><p><br /></p><p>Yes, gold &amp; silver coinage was used for centuries. But if one studies the usage of precious metals as coinage, the economic problems associated with doing so become self evident. Primarily the problems involved trade with other nations - that was the whole reason for the development of trade coinage. As long ago as the 13th century the nations of the world realized that the use of gold &amp; silver coins issued for circulation within a given country could not be used to facilitate trade. This was because in every case, coins issued in one country, be they gold or silver - were not accepted in other countries at the same value the issuing country assigned to them. Thus came about the development of trade coinage in both gold and silver. </p><p><br /></p><p>But even trade coinage was not always accepted at a universal value. The various nations always sought a way to make the situation and the acceptance of the coinage advantageous to themselves. Thus the usage of trade coinage was discontinued as well.</p><p><br /></p><p>The people of the world tried to make a system work for over 2000 yrs. But no matter what they did - it simply would not. Sure the system would work just fine - <u>IF</u> everybody played the trade game with the same set of rules. But they will not - there is always somebody who wants to change the rules in their own favor. So the system was abandoned - worldwide. </p><p><br /></p><p>You see, we humans are a stubborn lot. We absolutely hate the idea of change. But eventually, our intelligence overcomes our stubborness and resistance to change and we accept the inevitable. Or at least most of us do.[/QUOTE]</p><p><br /></p>

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