Quote:
Originally Posted by holograph
No, the original argument of thread was "lets go back to gold backed currency".
I posted counterarguments in my above posts.
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i meant my argument not thread title , i should have been more specific. My post was not in support of using gold, just suggesting why it was better than paper backed by nothing.
Quote:
Originally Posted by holograph
Your usefulness of gold does not convince me that gold is optimal in today's monetary system, not gold itself and not currency that is virtually backed by gold.
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I don't think gold is optimal either. We are already using digital but it is backed by nothing. In essence we are arguing the same point.
But just for sake of argument, if you don't believe gold is optimal then you must have something that is better than gold as an item to back a currency on.
Or you believe currency needs no backing.
In a nutshell you are saying the best way to crack an egg is to not have a shell. My point is if your egg has no shell it is something entirely different and cannot be compared. Your idea of an egg without a shell is a much much better way of getting to the egg, but isn't an optimal way to crack an egg
