There are always arguements and views on which is the better. As the dollar sinks with the Feds cutting interest rates aggressively to ease US citizens, it’s interesting to learn which is your preference. A government controlled or a gold standard dollar (which it used to be before 1971)
Vote and share your views at the same time! :)
Tags: Full Fiat, Gold StandardDigital Currency, e-Currency and Digital Money
Written by Benson Koh [email], and Donna Jackson [email] for b5media.
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8 opinions for Poll - Gold Standard Dollar or Full Fiat Currency?
Alicantranews
Jan 31, 2008 at 3:24 pm
Perhaps, this issue is far more complex than would appear.
The free market with its invention and escalating use of derivatives has mitigated the ability of the governments to control the amount of capitalization in the marketplace.
And if we were to revert to the gold standard who indeed would control the amount of gold and its margins?
Neno Brown
Jan 31, 2008 at 4:26 pm
Fiat currency, is a dog.
Gold standard dollar, is a dog with flee’s…!
Benson
Feb 1, 2008 at 3:06 am
Alicantranew, it is a huge big ball as far as i understand.
Whilst most of everyone who reads this will choose gold standard on the surface, those who chooses fiat might understand the complicating issues when we’re dealing with gold standard in terms of politics, capitalization and more.
Neno, lol
chris
Feb 2, 2008 at 9:45 am
With the government’s ability to print money “out of thin air”, we the people have placed our trust in them not to devalue our currency. Does anyone remember the pictures in Italy after WW2 of their paper currency littering the streets because it had no value?
The world economy will correct itself from the abuses and mistakes made in the last several years by the US government and central banks, at the people’s expense.
alicantranews
Feb 2, 2008 at 1:57 pm
Yes, It’s very complex.
The government can print money.
However, since the evolution of complex derivatives, the market can ALSO essential MINT money.
Now neither can control the other or the exact amount of capital flooding the market place.
But, perhaps they can temper each other. Unfortunately, it seems, the only way that happens is through “creative destruction” (ie the current credit and American housing market meltdown)
Mark Herpel
Feb 2, 2008 at 2:33 pm
I think that gov’s will most always have some outlet for printing fiat money. However, they could allow us to use gold and silver private money along with their paper currency. If you give people the option…at least that’s my opinion.
Mark
Alicantranews
Feb 2, 2008 at 10:42 pm
I think Mark Herpel’s idea is a great! Always having some gold and or silver coins is a good way to be truly diversified. And I guess it might be a good hedge against a falling currency too.
Steve NYC
Apr 16, 2008 at 11:27 pm
Gold is the only way to go. Fiat money allows the govt to grow to unsustainable levels. We went off the gold standard because during the Vietnam war the gold standard was restraining the govt to much from printing money carelessly to pay for guns and butter. If we had a gold standard we wouldnt be in mess we are in today. Besides, it was the gold standard that made dollars so attractive to foreign investers and made usd the worlds reserve currency. Thanx to Nixxon that is all coming to an end soon. Trichet has his eyes on making the euro the new reserve currency of the world so that they will be able to tax the world through inflation the same way america has been doin for the last 30 years. Up until recently no other nation had a currency with enough liquidity in the world market to play the roll as world reserve currency. Now that the Euro is here and there in an alternative, while Bernake keeps slashing rates and Trichet intelligently holds strong and keeps the Euro at 4% he is creating a high demand for the Euro which has the liquidity to serve as the new world reserve currency. Once this happens they will be able to tax the world through inflation and wealth will gravitate towards Europe. Once America loses its currency status govt will nolonger be able to fund its welfare/warfare/entitlement programs buy taxing the world through inflating its currency. We are at the brink of a new world order.
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