Quote:
Originally Posted by StickyGreen
Nixon took us off of the gold standard back in like 1971, so now our paper money is just that: paper. For some reason people don't seem to grasp the concept though, and yet the FED just keeps on running those printing machines...
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There isn't a country in the world that uses the Gold Standard. Using it would put the US at a severe disadvantage in the global economy and make us prone to deflation. A gold standard economy is more vulnerable to a severe economic crisis than a fiat one.
As for the dollar being shitty overseas, it's not bad for us. It helps bridge the gap between imports/exports and bring in more jobs here.