How are we going to go back to the Gold Standard?
I have been considering on how it would actually work out if Ron Paul did become president. How are poor people going to buy Gold? How are stores going to get charge us? How are we going to do this without going through the chaos? How are clerks going to give us change for an 800.00 dollar gold bar? I would really like Ron Paul to explain this. How is he going to implement this plan?
2007-12-02 14:04:01 · 5 answers · asked by Anonymous in Politics & Government ➔ Elections
The answer is simple: we cannot. The world left the gold standard because it was holding back economies. Governmental hoarding of minerals useful in industry is just not a good idea plus there is not enough gold in the world to back the huge US economy.
2007-12-02 14:52:51 · answer #1 · answered by Caninelegion 7 · 1⤊ 1⤋
You're confused on how the gold standard worked. Under the gold standard, gold backed up every single dollar printed. If you took a dollar into the bank, they had to give you that amount in gold for it. People didn't walk around with gold bars in their pockets.
That being said, we're not going back to the gold standard. The reason it went away is that there wasn't enough gold to sustain it.
2007-12-02 14:11:13 · answer #2 · answered by DOOM 7 · 2⤊ 2⤋
i really don't think Ron Paul advocates a return to the gold standard, even though that is reported from time to time. I think the main thing that he is saying is that we shouldn't be letting a few banks (the Federal Reserve) print money and then lend it to us because we have to pay interest on it. I think he is saying that we should cut out the middle man and if we are going to print money just do it ourselves instead of enriching bankers.
2007-12-02 14:21:14 · answer #3 · answered by deerhunterlll 1 · 1⤊ 1⤋
Simple, read the 2 books related to gold on my profile. Both are written by Ron Paul. They are both full books, in pdf format.
Also, for a quick idea on how this stuff works, spend 40 minutes and watch this. http://video.google.com/videoplay?docid=-466210540567002553&q=mises&total=7127&start=10&num=10&so=0&type=search&plindex=9
If you dont want to spend the time to read, or atleast watch, then froget grasping the concept. You dont become a doctor by reading a few threads on home remedies.
2007-12-02 14:15:54 · answer #4 · answered by vote_usa_first 7 · 3⤊ 0⤋
The gold standard just means for every dollar printed, there is a $1.00 worth of gold to back it up.... And, it ain't gonna happen.
2007-12-02 14:13:14 · answer #5 · answered by Anonymous · 1⤊ 3⤋