Gold Standard vs. Fiat Currency

Is the gold standard or fiat currency better for the world economy?

  • Gold Standard

  • Fiat Currency

73% 32 votes
27% 12 votes
  • Accountability is key.

  • Doesn't allow the government to manipulate the money supply (which almost always goes wrong, and mixing politics and economics is generally bad anyway), plus has intrinsic value.

  • Works all around the world.

  • Accountability, and it gives something for us to fall back on if the country goes to heck.

  • Enables money to have actual value. Gives money weight and stabilizes it. It will let us have something to fall back on if money loses value.

    Posted by: Deset
  • Prevents inflation and causes deflation, I see no good side in you're money being worth less, or a bad side in it being worth more, we never had a more sound economic system than under the gold standard.

  • Less inflation with the gold standard!

  • The Gold standard would lead to deflation, because of an insufficient monetary supply. Changes in the supply of gold is not proportional to changes in aggregate output. Fiat currency is the only standard by which the monetary supply can keep up with changes in output.

    Posted by: DanT
  • fiat is the only way to go the gold standard has failed many times such as argentina it would lead to bankruptcy and we dont have enough gold in the world to support only the us debt let alone the whole world

  • The gold standard is an antiquated idea. This would destroy the power of the federal reserve. Monetarism or Friedman anyone? We need a strong monetary force, which can only happen with fiat money.

    Posted by: A.K
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alpham says2014-10-01T14:39:05.3685506-05:00
Contrary to the belief of the proponents of the fiat system, the gold standard is feasible. There might not be "enough" gold, however, the value of money based on the gold system can be altered be increasing/reducing the money supply
harrytruman says2015-09-06T05:12:05.0303551Z
There isn't enough gold to support the world currency because they are so overpriced, besides, you can also back them by silver and copper, such systems worked great when tried.

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