2007-10-19 12:49:37 · 9 answers · asked by The Lamb of Vista 3 in Arts & Humanities ➔ Philosophy
Absolutely, but the dollar used to be backed by gold and silver. President Nixon took us off the gold standard, and now the dollar is held up only by the "good name and credit" of the United States. This is theft, since the government cannot pay me with that in return for my dollars.
2007-10-19 15:23:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The problem with that is that as people hoard their silver and gold, it becomes harder to come by and the value keeps changing. Also, part of the reason we like paper money is that it's much easier to carry than the weighty silver and gold.
Furthermore, trading in silver and gold might incite another Gold Rush, and there were a lot of good people who died mining for gold they never found, not to mention the environmental impact.
2007-10-19 13:02:39 · answer #2 · answered by nosleepthree 4 · 0⤊ 0⤋
There is a limit to what philosophy can say of this subject, which is better answered by some economist.
I believe you refer to trade where the currency is backed by gold in some fort, as in 100 dollars is equivalent to an ounce of gold. If so, it cannot work. The system was used in other centuries, and it was abandoned because there were people who found ways to rig the system to generate a profit for themselves, without effort or risk.
2007-10-19 13:00:02 · answer #3 · answered by epistemology 5 · 0⤊ 0⤋
Well we used the dollar note years back with this is legal tender for said amount in silver. We could do that. We could go back to making our coins in gold...I guess. Especially seeming how they say gold might reach a high of 1200 dollars soon. Sounds good, one big...big problem...the environmentalist would NOT allow us to mine that there gold and silver out them there hills.....for truly it would harm them there hills and cant have that now ....can we.
2007-10-19 13:10:49 · answer #4 · answered by kickinupfunf 6 · 0⤊ 0⤋
This question is best asked in an economics section, as judging from the previous answers, philosophers do not make good economists....
I'm assuming what you're referring to is going back to a gold standard. The dollars we use now are fiat currency, not backed by anything. As such, they are much more susceptible to inflation...when the gov't needs more money, all it needs to do is print more, thus devaluing the dollars already in circulation and "creating" wealth for itself (actually just transferring value from us). Monetary inflation is just another form of hidden taxation.
You may want to check out the Mises Foundation, they're one group of economists who are in favor of returning to a gold standard. They make some pretty sound points.
2007-10-19 13:54:42 · answer #5 · answered by R[̲̅ə̲̅٨̲̅٥̲̅٦̲̅]ution 7 · 0⤊ 0⤋
This question makes no sense. People do trade silver and gold. But if you mean on a daily basis, person to person trading, it is simply ridiculous. Who is going to shave off some gold to buy a pack of chewing gum or a roll of toilet paper? Completely impractical and silly.
2007-10-19 12:58:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋
the dollar is based on an amount we have in our gold and silver reserve. If the U.S. started handing out its silver, it would all just dissappear.
2007-10-19 12:58:34 · answer #7 · answered by zorro1701e 5 · 0⤊ 0⤋
no It is more valid if dollars
2007-10-19 12:52:09 · answer #8 · answered by Cedric B. Anderson 2 · 0⤊ 0⤋
No. Why would we do that?
2007-10-19 12:57:03 · answer #9 · answered by Ratchet 4 · 0⤊ 0⤋