Gold standard

Much of the world relied on the gold standard for currencies before the Great Depression. This system derived out of the tradition of using gold as a currency, but fell out of favor after the great depression when most countries switched to fiat currencies. Some groups are pushing for a return to the gold standard. The "gold standard" is a basket of tangibles, of which gold is one of many.

Countries should return to the gold standard

 * Countries should return to the gold standard
 * 1) The gold standard resists manipulation by special interests, unlike fiat currencies.
 * 2) Countries should adopt currency systems that are resistant to mainipulation by special interests.


 * Countries should return to the gold standard
 * 1) The gold standard is a stable store of wealth.
 * 2) Countries should adopt currencies that can be used to store wealth.


 * Countries should return to the gold standard
 * 1) Gold backed currencies are relatively resistant to hyperinflation
 * 2) Hyperinflation undermines the effectiveness of a currency.
 * 3) Countries should adopt currency systems that are likely to remain useful.

Additional propositions: Implications
 * The gold standard is a unified global currency, allowing efficient international trade.
 * The "gold standard" has the greatest geographical range in terms of equitable barter.
 * Reducing the flexibility of currency, reduces both frequency and magnitude of economic downturns.
 * The gold standard reduces waste, exponentially.
 * The gold standard improves the desire for long term planning.
 * "Monetary" policy, is returned to the honorable calibration of weights and measures.

Countries should avoid the gold standard

 * Countries should avoid the gold standard
 * 1) The gold standard is prone to deflation--a gain in the purchasing power of money.
 * 2) When a currency is deflating, people are unwilling to exchange it for goods because its value is increasing relative to those goods.
 * 3) *Counter: Deflation acts as an automatic market correction system to an economic downturn.
 * 4) The purpose of a currency is to facilitate the exchange of goods.
 * 5) *Counter: Just because there is deflation does not mean that all economic exchanges will come to a halt.
 * 6) Countries should use currency systems that serve the purpose of currencies.


 * Countries should avoid the gold standard
 * 1) The gold standard does not allow inflationary policies.
 * 2) *Counter:Be more specific, and list these inflationary policies (deficit spending, printing?).
 * 3) Inflationary policies help countries deal with economic downturns.
 * 4) *Counter: The business cycle can be alleviated by full reserve banking, which is compatiable with a gold standard. (more information about the Austrian Theory of the business cycle here: )
 * 5) Countries should use currency systems that help them to deal with economic downturns.
 * 6) *Counter: Countries should use currency systems that allow their citizens to store their wealth in the form of currency.

Other arguments
 * The pursuit of tangible goods leads to conflict.
 * Counter: Sometimes.
 * Counter: The pursuit of anything sometimes leads to conflict.
 * Disparity in geological distribution/recovery leads to inequity. Conflict again.
 * Counter:There has nearly always been economic reasons for conflict, saying that more demand for a resource causes more conflict is inevitable; but this would happen as the demand for gold would rise naturally wihtout enacting the gold standard anyways. Also, what is meant by inequity (Gold price inequity, wealth inequity...)?