The Gold Standard should have remained the standard

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JohnDB said:
Changing of currencies is disastrous to a population.

Every time it happens everyone suffers....the elderly suffer the most because their savings ALWAYS evaporate. They literally can't afford food and medicine anymore. Housing? Maybe if they outright own it and then only maybe because of taxes.

And a few "fat cats" always come out on top richer than ever before. Meanwhile everyone else starves. Changing back to a gold standard would do exactly that. Basically starve people to death.
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Changing of currencies is extremely profitable to a select few. Because of the collapse in the economy that accompanies this those who have prepared for the change can buy up assets at a tiny fraction of their previous cost. Starving people work long hours at a very low wage without complaint. Rockefeller Center was built during the Great Depression on time and under budget.
 
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When you lose trust you have no choice but to go to a gold backed currency. There are many countries in this situation. Right now the US dollar is by far the most trustworthy regardless of the debt and spendthrift policies. However, a surprise attack on the US will cause BRICS gold backed security to skyrocket as the US dollar collapses as an option.
 
JohnDB said:
Changing of currencies is disastrous to a population.

Every time it happens everyone suffers....the elderly suffer the most because their savings ALWAYS evaporate. They literally can't afford food and medicine anymore. Housing? Maybe if they outright own it and then only maybe because of taxes.

And a few "fat cats" always come out on top richer than ever before. Meanwhile everyone else starves. Changing back to a gold standard would do exactly that. Basically starve people to death.
Click to expand...

I cannot see a way back either without immeasurably harm to many.
 
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