LogFAQs > #617364

LurkerFAQs ( 06.29.2011-09.11.2012 ), Active DB, DB1, DB2, DB3, DB4, DB5, DB6, DB7, DB8, DB9, DB10, DB11, DB12, Clear
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TopicObama signs into law the NDAA allowing indefinite detention of citizens
red sox 777
01/01/12 6:17:00 PM
#83:


The gold standard is inherently flawed. Gold's value is every bit as made up as fiat currency, except with gold you have no control over your monetary policy.

Monetary policy is the problem then. I mean, the gold standard worked for thousands of years, so I wouldn't call it inherently flawed. Maybe slightly inferior (in that we might not to reach quite as good a world as we theoretically can with credit based currency) at best.

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