The Instigator
tahirimanov
Pro (for)
The Contender
tejretics
Con (against)

We should adopt Gold Standard

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Voting Style: Open Point System: Select Winner
Started: 2/21/2017 Category: Economics
Updated: 11 months ago Status: Debating Period
Viewed: 744 times Debate No: 100113
Debate Rounds (4)
Comments (6)
Votes (0)

 

tahirimanov

Pro

Definitions :
1. The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price.

2. Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.

First round is for acceptance.
tejretics

Con

I accept.
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Debate Round No. 4
6 comments have been posted on this debate. Showing 1 through 6 records.
Posted by tejretics 10 months ago
tejretics
There's an ongoing glitch, wherein if a round is forfeited, the timer stops.

However, the glitch is only triggered when a debater forfeits the round.
Posted by tahirimanov 10 months ago
tahirimanov
I couldn't post my argument. And timer has stopped.
Posted by tejretics 10 months ago
tejretics
You have forfeited a round.
Posted by tahirimanov 10 months ago
tahirimanov
It seems there is something wrong with ddo.
Posted by Aspirant 11 months ago
Aspirant
You didn't define the basis for 'should' otherwise I may have jumped on this.

Regardless, the value of gold is set by the same means as the value of any other currency, its a made up value agreed upon by at least two parties. Gold has no inherit worth just because it's rare, the value of that rarity has to be synthesized and agreed upon by at least two parties.

What really needs to be happen is governments need to start issuing their own bills instead of bonds, which bonds are promissory notes to pay to private international lenders who in turn inject their own form of currency (bills) into societal circulation, but this injection is a lending at interest, which the government has to pay back, and how do you think this is done? With more bonds, not bills, because governments don't issue their own bills, the lenders do, it's the only place government can get more currency to pay back the interest, but all of that currency is loaned AT interest, you see? It's a debt system, pure and simple. But where do you think the lenders keep getting their bills/currency? Nowhere, I am not kidding. It's the greatest scam of the planet and is unprecedented in human history but people are too stupid and distracted to understand this process.

Listen to me carefully because you're about to be told the most important truth in politics today: The world governments cannot pay back their debts to the international lenders without literally destroying their nations entire money supply, because the money supply is a debt system.

If the people were educated the fix would be simple:
Governments just need to issue their own currency to replace with the lenders currency. It's that simple, the people just need to issue their own money in the first place, it doesn't matter what the currency is, wood, gold, paper, it all works the same.

Please don't take my word for it, please please educate yourself: https://www.youtube.com...

Watch that, you'll thank me, but
Posted by TheUnexaminedLife 11 months ago
TheUnexaminedLife
We (the UK) left the gold standard for the credit system, the fiat standard, in the early 20th century. Currently, there is so much 'money' in circulation that there isn't enough gold for us to return to it. Therefore, saying that we ought to is pointless; we can't.
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