Reply to Re: What is your worst nightmare
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Well if you couple the value of your currency to gold you know that the currency will keep it's value because you can't magically create more gold. Unless you happen to own the philosopher's stone. So a government can't issue more money than they have in gold which makes the currency reliable.
Yeah we can't creat more gold..which is why I heard we're in debt. From funding wars and such. Because we have spent more money then we actually have in gold.
Striker- I did not know that about the Gold Standard. I don't even remember learning about it in school.
I'll have to look it up more. Like I said, I don't know much about economics.
Edit-I found an Article on the Gold Standard and what's used today. That's exactly what I was talking about when I said we should just use our dollars as face value. I had no idea gold wasn't involved at all anymore.
Thank you for bringing me into this century, Striker
Yeah we can't creat more gold..which is why I heard we're in debt. From funding wars and such. Because we have spent more money then we actually have in gold.
Striker- I did not know that about the Gold Standard. I don't even remember learning about it in school.
I'll have to look it up more. Like I said, I don't know much about economics.Edit-I found an Article on the Gold Standard and what's used today. That's exactly what I was talking about when I said we should just use our dollars as face value. I had no idea gold wasn't involved at all anymore.
Thank you for bringing me into this century, Striker
