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

It's not like the current Fed can't keep inflation around 2%

The government controlling the money supply is strictly central planning

it can’t

because it isn’t

The business would control the money supply

And it’s not supposed to keep it around 2%

The fed's target rn is 2%

if the businesses controlled money supply it would be backed by gold

Market *

Yeah inflation should be below 0

not 2%

Here are some of the myths if you’d like

https://mises.org/library/10-gold-standard-theory-and-myth

About the expansion of an economy

It wasn’t what restricted the economy in 1800s

It expanded fast

It’s an audio but

But negative inflation incentivises money hoarding instead of investment

It becomes more and more profitable to hold money than to spend, invest, or use it productively

Wrong

Oh hey

fuck i cant post ss