Does a gold standard really protect us from inflation?

Does a gold standard really protect us from inflation?
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1 Answer

Answer :

The magic likely comes from the concept of cold hard gold. It’s easier to understand that which you can hold in your hand, it’s easier to abuse the bits and bytes that fly around the world banking system electronics. The fact that gold is a finite resource and therefore only a few can ‘hold’ it doesn’t change the concept of it being holdable.
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Related questions

Should the United States return to a Gold Standard monetary system?

Description : Should the United States return to a Gold Standard monetary system?

Last Answer : Only if we want to destroy our economy and perhaps send the world into depression.

Why did some people in the 1890s think that going off the gold standard would cause inflation?

Description : Why did some people in the 1890s think that going off the gold standard would cause inflation?

Last Answer : They believed that increasing the money supply wouldcause inflation. Inflation, in turn, would result in risingprices. Higherprices for crops would help farmers pay back the money that theyhadborrowed to improve their farms.

What would you do if you found out your government had to borrow money from a private bank to run the ecconomy, and that this was the real cause of inflation?

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Last Answer : My government borrows money from private entities all the time. The government has always been borrowing from private entities, and has never been able to function without it. We’ve never been without a national debt. Buy a Treasury bill?

Was US Dollar ever backed by gold and silver?

Description : Was US Dollar ever backed by gold and silver?

Last Answer : Yes. Nixon took us off the gold standard.

What are some ways to protect yourself against credit card fraud?

Description : What are some ways to protect yourself against credit card fraud?

Last Answer : use the cash machine inside the bank, thats what my mum does.

With printing your own money being illegal, what legal arguments would the state use to criminalise you, if you had the technology to transmutate literal dirt into gold?

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Last Answer : Since gold is not money, it isn't a matter of counterfeiting. But true transmutation would mean that the gold produced from dirt would be indistinguishable from gold mined in the traditional ... like someone finding an alternative way to mine bitcoins at 1/1000th the necessary computing work.

If our currency lost its value for whatever reason, would you find gold valuable?

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Why do we value minerals like silver and gold?

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How do I go about selling gold?

Description : How do I go about selling gold?

Last Answer : Some jewelry stores buy it, and of course, pawn shops.

Artificial diamonds are worth far less than natural diamonds, if Gold could be artificially made in a lab somehow would it be worth less than naturally mined Gold?

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Is there a way to buy small amounts of pure gold for its exact value?

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State which of the following is correct ? The Consumer Price Index reflects : (1) the standard of living (2) the extent of inflation in the prices of consumer goods (3) the increasing per capita income (4) the growth of the economy

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Is it really worth spending money for brand name items?

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