Message from @VaingloryPvP
Discord ID: 704193960494497912
The gold standard would massively devalue the US dollar and crash the economy in the snap of your fingers
Unless you took like
90% of all US dollars out of circulation
the economy would never "overheat" if our currency was backed by a commodity such as gold
Screenshot proof. possible WW3. war happens on may 6 2020. Predicted-April 26
That's
do you not understand the process of inflation?
fiat currency is what is devaluing our money
they print more and more money, it's worth less and less
Ok ok ok I understand how inflation works
But in order to afix the US dollar to a gold value
The government would have to fix a selling price for gold
wrong again
Wha
That's what the gold standard is
You’re wrong soup.
no.
explain why price fixing would be necessary?
Y
You’re smart qwasi.
Its a price for gold set by the governmemt. It's how much gold the government will "convert" for a specific amount of money
That's what a standard is
Yep.
That sets the price of gold for that currency
that's not price fixing
^
Yes you're right
It's setting a price essentially
price fixing is when the govt says a pound of flour costs this much and if you deviate from that we'll chop your fucking head off
No.
You give the government a certain amount of money and the government gives you gold back
no.
govts price fix in order to try and offset the negative of fiat currency
Your just conflating terms dude
Yep qwasi!
the money is worth less and less so the govt price fixes
^
which doesn't work
What? Price fixing is to prevent the market from over valuing basic commodities
Eh, not really.