Quote:
Originally Posted by Hatterasguy
The gold standard is no bargin either, thats why no one uses it anymore.
If we were to revert back the money supply would have to substantialy shrink, leading to a very deep depression.
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Yes, gold is just as artificial as paper money; it's just another commodity with a variable value. It makes no sense to limit the amount of currency based on the holdings of a specfic mineral. Money is supported by the GDP of the nation that issues it.