Why do people say that there isn't enough gold to have a gold standard?

not enough gold in existence to support the value of all US fed reserve notes (money) in existence.

Unless you want to plunge the USD down even more. Look out for $5000 USD/oz gold
 
Because even just the US changing to the gold standard would result in a massive inflation in the price of gold resulting in a MASSIVE transfer of wealth to those people.

If you want to transfer a lot of money to hording crackpots switch to gold.

Also the gold standard is a fucking terrible policy. Countries who left the gold standard earlier in the great depression were those that recovered quickest. Since the US left the gold standard we've seen shorter recessions.
 
All-modern-economies.jpg

Nice Appeal to Tradition fallacy.

The gold standard argument is almost exclusively made by Austrian School and similar economists which can be defined as the least academic, least mathematically supported school of economics in existence based on nothing but rhetorical argument.

The gold standard results in longer more painful recessions than would otherwise be experienced and historically we experienced that.
 
Modern economies who are experiencing global financial difficulties, inflation, and recessions? Great argument. Not to mention we used a gold standard until the last 100 years or less.

Did you know we can buy worthless foreign bonRAB, from places like Mexico for instance, and use them as collateral to print money? You think that's a good idea?
 
They're totally ignorant, probably by choice, of the fact that the value of gold can adjust to any amount of gooRAB and services in the economy. They are content with crass errors such as the idea that a gold standard means that everyone transacts in physical bullion and totally ignore the fact that you can easily have bank notes and modern electronic bank accounts whose unit of account represents a quantity of gold stored somewhere. They've bought into the Keynesian nonsense that printing money = economic growth, so they can't see how we can have economic growth without a fiat currency.

CliRAB: liberals are retarded.
 
How am I supposed to follow what you mean when you use the word inflation to represent two different things?

First, you used the word inflation to refer to an increase in price.



Second, you used the word inflation to refer to expansion of the money supply.
 
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