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.
Aside from the fact that William Jennings Bryan gave the now famous, "Cross of Gold" speech; A gold standard for currency is simply unworkable. The US has gone from each bank issuing it's own currency to a Gold Standard to a Silver Standard to a Federal standard. One of the biggest advantages that the US economy has is a common currency across many individual states.
Silver at least has some value in photographic processes. Gold is only valued because it is traditionally valued. Any value that gold might have can be easily accomplished much more cheaply with lead. The heavy metal poisoning that lead produces can also be produced with gold. Gold just looks prettier.
the point of the Gold/ precious metal standard is not to get rid of money, It is to change the current system so that the US dollar has backing in some amount of precious metal. For instance, You could say that 5 dollars is a quarter sized amount of silver and stuff like that. Quarter size of gold? 500 dollars. You give the dollar a set amount that it is worth and then no longer change it. This should go a long way to stabilizing the economy.
Without gold money has no real value. You just pretend that it does. Others, More objective and less biased ones, Prefer to live in reality rather than fantasy world.
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.
This debate has 6 more rounds before the voting begins. If you want to receive email updates for this debate, click the Add to My Favorites link at the top of the page.
You are not eligible to vote on this debate
This debate has been configured to only allow voters who meet the requirements set by the debaters. This debate either has an Elo score requirement or is to be voted on by a select panel of judges.
Aside from the fact that William Jennings Bryan gave the now famous, "Cross of Gold" speech; A gold standard for currency is simply unworkable. The US has gone from each bank issuing it's own currency to a Gold Standard to a Silver Standard to a Federal standard. One of the biggest advantages that the US economy has is a common currency across many individual states.
Silver at least has some value in photographic processes. Gold is only valued because it is traditionally valued. Any value that gold might have can be easily accomplished much more cheaply with lead. The heavy metal poisoning that lead produces can also be produced with gold. Gold just looks prettier.
How would banks do this?
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.