Why after 95 years of being on the fiat money standard have we not switched back to the gold standard.?

Question

We have used the fiat money standard(money backed by nothing) for 95 years and within that time have seen the dollar fall in value many times. haven't we as a nation learned from this yet that the fiat system (money not backed by anything )doesn't work.

Answer 1

Governments like fiat money systems.  They can print money at will and not have to live within their budgets.  Unfortunately, history is filled with fiat currencies that are now worthless.  We're going that way, too.

Grandpa

Answer 2

Exactly where do you propose we come up with enough gold in this country to go back to the gold standard?  It would take approximately 200,000 times the amount of gold that we have in Fort Knox.

Answer 3

As long as the football was on the TV and the gas was in the SUV they didn't care at all.  When prices and inflation went up they become confused and miserable crying babies that thought that people who said BANKERS control the world were complete conspiracy nuts with tin foil hats.  Note: you could back up the dollar with any ASSET as long as it was redeemable could be gold silver platinum copper and wheat.

BANKERS CONTROL IT!!!!!!!!!!!!!!!!!

Answer 4

Who will pay for Iraq, Afghanistan? US allies?

US will not be able to print dollars more.

Answer 5

i 100% percent agree, this is why the Patriotic Party will strengthen The U.S. Economy, these two other parties have gone corrupt and have messed up our system, we need to act NOW!! Join The Patriotic Party!! Add (Patriotic Party)  to your display name and spread the word!!!

Answer 6

Because the gold standard does not allow for rich people to borrow millions of dollars for pet projects. It also would make it impossible to accumulate 10 trillion in national debt for congresses pet projects. We also would not be able to bail out banks and corporations and fight as many wars. Basicaly, gold standard would mean congress had to be responsible spenders and bankers/borrowers would not be able to inflate the money supply at the expense of eh poor.

Bottom line if if you want to trade in faith biased paper currency you should be able to but I should also be able to trade in hard money but it is illegal now for me to do that. Freedom in the USA? Its dwindling.

Answer 7

it allows Dems to run their tax and spend campaigns endlessly

Answer 8

It is estimated that 110,000 tonnes ( 2,200 lbs per tonne ) of gold have been mined in human history.

Thats 242 million pounds.

or 3.8 brillion onces

At todays market prices, which is 805.70 per once thats,

3 trillion dollars, for all the gold thats been mined in history.

The US economy is 13 trillion dollars per year.

Gold prices would have to be increased to 30,000 or 40,000 per once for the US or any country to go back to the gold standard today.