See, I would prefer non-inflationary fiat to gold standard for reasons that I think you could agree with too

Well you can’t have that

It’s inherently inflationary

I mean, printing money only at rate of economic growth

Just the bare minimum to stop deflation

No fed, no central bank

Just a producer of currency to meet demand and no more

That would be be, in my opinion, superior to gold-backed

What’s wrong with deflation

there’s nothing wrong with deflation in any way

visitor here come the central planning talk again

Printing money will always cause inflation

And boom and bust cycles

Inflation can't really cause boom and bust if it's constant, for the same reason it can't stimulate the economy if it's constant (according to Hayek).

Inflation is taxation without legislation

It shouldn’t exist

Inflationary booms have been caused by this increase in money supply through the century

Yet there were tons more recessions before we left the gold standard

Which brings me to my next point

Because of this very cheap credit expansion

A gold-based currency depends a lot on the value of gold, which can fluctuate and cause problems. That's really the main thing.

Look at the individual policies enacted in those periods

they won’t cause problems

That’s a myth itself

Like I said, if we avoid discussion about central banking for a minute, I think gold-backed currency has problems that you could agree on.

As in, most of the later 1800s, there was a rising demand for currency coupled with a constant supply that squeezed creditors and restrained the economy.

Plus, new gold discoveries can cause inflation too.

And if someone tried to corner the market on gold, that could cause a huge problem for the money supply.

Not to mention that gold is just hard to use and move around.

A non-inflationary, central-bank-less fiat would be likely better.

See hays the problem , with FIAT currencies, it has no value. The only reason it’s used is because the state gives its value. Increases in money supply causes inflation for this. However for gold, a higher gold supply would increase the supply for money but would not cause inflation as it is is backed by some incentric value.

1800s did not have restrained growth? It was a rapid expansion.


We can’t have a central bank less, non inflationary FIAT . It is impossible

The problem about moving gold around is hardly a problem

How is it impossible?

If there's a private business contracted by the government to keep inflation at 0% by issuing currency strictly to meet demand

Which is impossible as central planning will fail

And 1800s were a time of expansion, which drove the money shortage and the rise in debt burden for much of the country.

As we’ve seen with the GED

How is that impossible?

FED

because central planning fails

But it's incredibly minimal central planning, if it can even be called that