The Instigator
Striker_Hagane
Pro (for)
Tied
0 Points
The Contender
666666
Con (against)
Tied
0 Points

should we switch back to gold standard?

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Voting Style: Open Point System: 7 Point
Started: 12/2/2015 Category: Economics
Updated: 1 year ago Status: Post Voting Period
Viewed: 265 times Debate No: 83353
Debate Rounds (3)
Comments (3)
Votes (0)

 

Striker_Hagane

Pro

So recently monetary inflation and deflation have become commonplace among society. This has led to things such as famine, poverty and a loss of the currency's value. all of this is namely down to a few matters - the one I shall be discussing now is wherever we should switch back to gold standard. For those of you who are unaware, gold standard is essentially only using gold and silver to be money, and this is also stated in America's declaration of independence (go on, look it up). The best part about this is that with this system, money cannot be forged, and will have actual value, instead of being a piece of paper with a value assigned to it, like the 'currency' we now use today. So today I'm wondering what your thoughts are on switching back - do you think it would be a good idea, or do you think that it could break the economy?
666666

Con

It could still be forged, and it would be forged in greater numbers. What would keep people from stopping someone from melting it down to make more coins? I think you should you tube William Jennings Bryant's Cross of Gold speech. This may change your thoughts. It could break the economy because gold and silver are much more expensive than nickel, copper, and "useless" paper. Do you really think silver is worth less than1$ or gold 50$. I agree with one thing it would stop famine, poverty and a loss of the currency's value.
Debate Round No. 1
Striker_Hagane

Pro

Striker_Hagane forfeited this round.
666666

Con

666666 forfeited this round.
Debate Round No. 2
Striker_Hagane

Pro

Striker_Hagane forfeited this round.
666666

Con

666666 forfeited this round.
Debate Round No. 3
3 comments have been posted on this debate. Showing 1 through 3 records.
Posted by usawinseverytime 1 year ago
usawinseverytime
The con or 66666 just conceded their whole argument and their whole case with their last sentence in the first round.
Posted by Jonbonbon 1 year ago
Jonbonbon
And the gold standard is that gold backs up the dollar, not that we use gold for currency. It means the total worth of American currency is equal to that of how much gold is backing it up.
Posted by Jonbonbon 1 year ago
Jonbonbon
If we went back to gold standard the dollar would basically become worthless.
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