The Instigator
harrytruman
Pro (for)
Tied
0 Points
The Contender
devinator534
Con (against)
Tied
0 Points

we should return to the gold standard

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Post Voting Period
The voting period for this debate has ended.
after 0 votes the winner is...
It's a Tie!
Voting Style: Open Point System: 7 Point
Started: 7/25/2016 Category: Economics
Updated: 4 months ago Status: Post Voting Period
Viewed: 662 times Debate No: 93947
Debate Rounds (3)
Comments (22)
Votes (0)

 

harrytruman

Pro

google docs are not a violation of conduct.
devinator534

Con

I accept... As Neg. I will give my opponent the first chance to state his argument
Debate Round No. 1
devinator534

Con

Thanks Harry for your arguments. I just have a few things to say about those arguments and we will start off with your first one which is that the Constitution mandates a gold standard

Constitution mandated many things which have been amended
The Constitution mandated many things when it was ratified, things which would not work in today's economy. For example, slavery. Slavery was ratified in the Constitution but just because it was ratified, does that mean that we should still have it implemented in the US today? The answer is no. Just because it was passed in the Constitution does't mean it would work today.

Next, my opponent contended that we would bring stability back, but for this point, lets look at past precedent, or what happened when the gold standard was in place.

Gold standard led to 26 recessions and 6 depressions:
When the gold standard was in place in America, we had many more depressions and recessions then we have had since the gold standard has been repealed. This simply shows us that the gold standard brings anything but stability in the US. https://www.nolanchart.com...

Finally, my opponent said that a gold standard is more reliable, but this ties back to my last point that it isn't reliable, the value of gold fluctuates and it would not be a good system to implement or revert back to in the US

Now with my opponent's arguments outlined and responded to, let's look at a couple of problems with this system that the Affirmative would like to implement

It is impossible for the US to return to the gold standard
Let's take a second here to examine the amount of gold that is available in the world. In the world today, there is about 9 trillion dollars worth of gold with the US owning about 478 billion dollars of it. But the US has a 15 trillion dollar economy, it is simply unfathomable to ever back to the gold standard because there is not enough gold in the world to support our economy. https://www.nolanchart.com...

This point leads me into the impact of another depression:
With the gold standard back in place, the US would plunge into a deep depression because we would not be able to back up our dollars with gold. What happens? Prices skyrocket, jobs are lost, and the poverty rate shoots to an all-time high.

I am eager to my opponents response, but currently, the vote should definitely fall to the Negative
Debate Round No. 2
devinator534

Con

I thank my opponent for his response, but his assertions simply are not true. I would like to remind those that vote on this debate, that the Affirmative has the burden of proof. Looking back at his last speech, he did not have any evidence besides one graph. He tried to refute my evidence written by professionals with his logic which I will once again show you is not worthy to stand in today's debate round. He left me with two main arguments to contend with which are Constitutionality and stability

So in refutation to his contention of Constitutionality, my response is that the gold standard can't be found in the Constitution.

Nowhere in the Constitution does it mandate a gold standard. What my opponent is referring to is Article 1 Section 10 where it says, ""[No State shall] make any Thing but gold and silver Coin a Tender in Payment of Debts;". This does not require a gold standard, rather, "it is a restriction on the individual states States of what they can make legal tender, and not a requirement that they make gold and silver coin legal tender. In the same section is the restriction which prohibits the States from coining money, so the only money that can be coined by government is by Congress, and includes more than just gold and silver."
https://fauxcapitalist.com...

Secondly, he talked about stability, and he made the professional which I quoted look like he had no idea what he was talking about. Bringing you back to his speech, he didn't cite anyone who said that there were no recessions during the gold standard era. Has he forgotten the Great Depression? Perhaps he has never heard of the Panic of 1893 which was caused by the gold standard. Just as a side note, unemployment rates were much higher than they are today. By implementing a gold standard, we would skyrocket the unemployment rate once again.
http://krugman.blogs.nytimes.com...

He briefly touched on the point about America not having enough gold, but once again he had no source and therefore I win this point. America has a 15 trillion dollar economy, yet we only have 478 billion dollars of it. Our economy could not run on the gold standard. So unless my opponent wants to send us into a depression, you must vote Negative.

It is for all of these reasons which I have presented and have backed up, as well as my opponent not upholding his burden of proof, the only way you can vote is Negative. The status quo is innocent until proven guilty, and the judgment in this round is INNOCENT.
Debate Round No. 3
22 comments have been posted on this debate. Showing 1 through 10 records.
Posted by harrytruman 4 months ago
harrytruman
No, you never proved anything, besides, what's changed, with gold and Money I mean, you buy stuff with it, as always, the rules of free market still apply.
Posted by devinator534 4 months ago
devinator534
Actually I never did, and I showed that just cuz something worked back then does not mean it would work today
Posted by harrytruman 4 months ago
harrytruman
I fulfilled my burden of proof, I shew that under the gold standard we faced more economic growth than we have now, and that since we ended the gold standard our economic growth rate has been declining, therefor we should return to the gold standard, you dropped this, therefor I win.
Posted by devinator534 4 months ago
devinator534
Haha, I hope you remember that u have the burden of proof and pointing out one argument which I adequately refuted doesn't give u the round
Posted by harrytruman 4 months ago
harrytruman
They don't need to take comments into consideration, everything I said here is in the debate rounds, I was merely pointing it out.
Posted by devinator534 4 months ago
devinator534
Um, no I didn't. And also, the judges are not to take comments into consideration, the round is over buddy. If the judges feel that way, they will vote that way
Posted by harrytruman 4 months ago
harrytruman
Wow- just,wow, I did provide more clauses from the constitution than Article 1 section 10, read my arguments, secondly I never said that there weren't depressions during the gold standard era, just that they weren't caused by the gold standard, whereas many of our current issues ARE caused by fiat. He has misconstrued my words, and lied about my arguments.
Posted by harrytruman 4 months ago
harrytruman
I did,
Posted by devinator534 4 months ago
devinator534
It is unfair to ur opponent if u don't allow them access to ur doc
Posted by harrytruman 4 months ago
harrytruman
Don't forfeit.
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