Can someone explain to me the downsides of going to a gold standard?

[Shockwave]

Benny B is always very quick to slander Ron Paul for wanting to return to the gold standard... Can anyone explain to me why that would be a bad idea? Benny never seems to answer the question.

[Fury]

I bought kinebar gold bullion (someone is holding it overseas for me for when everything hits the fan) and I couldn't be happier. I love the gold standard!!!!!!

[Pray_4_War]

Gold is still only something with which people have assigned value to.  It's safer than paper currency but it is still able to be manipulated.

[magikusar]

Benny B is always very quick to slander Ron Paul for wanting to return to the gold standard... Can anyone explain to me why that would be a bad idea? Benny never seems to answer the question.

Benny B is a communist so anything that stops government spending growing he hates.

The gold standard means you can't print money.

Money is equal to a finite amount of gold.

Without fed to print money all obama spending would have to stop until they coudl get the money from taxing you.

That would be a nuclear war when people find out they paying 99% of thir paycheck to government to pay for fatcat useless bureaucrats.

[WOOO]

going to a gold standard at this point would be impossible... it would also destroy the financial markets...

a gold standard is not a free market... it's the opposite

[Mr. Magoo]

not enough gold?

 

[pedro01]

not enough gold?

 

I think this is true.

What we are discussing is having something that is used as a store of wealth. Fiat currency in itself is not an issue, it's how people dick around with it for short term goals.

If you go to a Gold standard, then you are limiting the amount of wealth to the amount of Gold available. You can't create additional wealth without the Gold to represent that wealth.

Seems an odd 'cure' to the worlds ills to be honest.

[B_B_C]

Is this realy a good site to improve your financial numeracy skills?

[Archer77]

One of the reasons they left the gold standard behind was that it limited the amount of credit available thus slowing growth. The growth of business looking to expand and the creation of new businesses would be severely impinged.

[Shockwave]

One of the reasons they left the gold standard behind was that it limited the amount of credit available thus slowing growth. The growth of business looking to expand and the creation of new businesses would be severely impinged.

I see. Makes sense. Thank you for a real answer.

[Soul Crusher]

One of the reasons they left the gold standard behind was that it limited the amount of credit available thus slowing growth. The growth of business looking to expand and the creation of new businesses would be severely impinged.

However - getting rid of the gold standard allows the politicians free reign to debase the currency and rob savers. 

[B_B_C]

I bought kinebar gold bullion (someone is holding it overseas for me for when everything hits the fan) and I couldn't be happier. I love the gold standard!!!!!!


How do you know that the gold will be there for you when the shit hits the fan?
will you be able to get at it ?
Or have you taken it on trust that it is there for you ?

[Soul Crusher]

He got it off some very reputable poster on a bodybuilding board from Canada. 

[Shockwave]

He's mocking someone that posts on here.