The Instigator
ajg897
Pro (for)
The Contender
ramramgeorge
Con (against)

Gold Standard

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Voting Style: Open Point System: 7 Point
Started: 3/31/2015 Category: Politics
Updated: 3 years ago Status: Challenge Declined
Viewed: 1,202 times Debate No: 72671
Debate Rounds (3)
Comments (1)
Votes (0)

 

ajg897

Pro

I am pro for the gold standard, Americas money does not lie in purchasing power but it lies in credit which can be changed by a large central bank.Your very simplistic argument of 'to much money, to little gold' is not sufficient to dealing with economic affairs of the country.The key ideal we are looking at is inflation rates, very simple idea, more money = less purchasing power, less money = more purchasing power.Do you not think that it is sad that the amount of money surpasses the amount of gold in the United States? I do not believe gold should be the only metal used to back up are currency, silver and platinum should also be used.Keep in mind that the federal reserve loans money to the federal government at a intrest rate and then the citizens have to pay the money back via. taxes, Would you want to pay your taxes to a bank which can print money freely and manipulate credit and inflation as they please, or a bank that is spending money wisely and not loading citizens with perpetual debt that could never be paid off because they cant just print money there money needs worth.We can keep are national currency and low inflation rates, I hope you accept my debate.
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Debate Round No. 1
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Debate Round No. 2
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Debate Round No. 3
1 comment has been posted on this debate.
Posted by asta 6 days ago
asta
If Gold was the system of currency, how much would 6.25 g (about the weight of a Quarter) of gold be worth? Wouldn't it be worth more than the amount of money needed for daily transactions (about $500)? A piece of silver the size of a coin this big would b worth about $5. This seems too expensive.

Money on the other hand, allows people to artificially determine how much money a dollar is worth, irrespective of how rare it is because it's rarity, unlike that of metals, can be controlled.
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