Quote:
Originally Posted by MRM
The whole gold standard idea is goofy beyond rational belief. It's an article of faith for a certain population who won't be convinced by logic that it's not just a bad idea but impossible. People who are interested in RP would do well to look into what it means to go back on the gold standard.
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I don't know how it would be possible to go back to the gold standard, so that area of Paul's platform is sort of pie in the sky to me. Yes, we should work to get back some fiscal sanity in our monetary policy and not let the Fed just keep printing more money (actually creating it with computers now) and flooding banks with it at low interest rates. But backing every dollar in circulation with physical gold at Ft. Knox just isn't possible, even if everyone in Congress agreed with a Pres. Paul, which surely wouldn't be the case.