Quote:
Originally Posted by Libertyforall1776
THAT is the point -- it limits the politicians' money supply and diets their insatiable spending habits of our hard earned money.
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Well current estimates peg the worth of goal to be about half the worth of US money. Therefore either goal would have to be worth twice as much (from ~$1000 to ~$2000) or the worth of US money would have to be halved (sp?) and therefore your $1 is now worth $.50 etc. Plus the gold standard doesn't limit the amount of money that politicians can use as the price of gold can flucuate. Plus the gold worth vs. dollar worth will flucuate with the price of gold and you can see inflation/deflation unless you either print more money or mine more gold.