The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
The danger with fiat money is that it has no natural limit. Where gold is a product of the natural world and supply is limited, so that in order for a country to debase its currency it requires physical action on the coin, in the case of fiat money, it can be debased by simply printing more and more money.
Of course, the supply of money must have limits. But those limits should be measured by the amount of human inventiveness, NOT by the supply of ore for a semi-worthless metal like gold.
There are hundreds of GOOD reasons why humanity has (hopefully) left the gold standard in the dim past. Anyone who would suggest a return to the gold standard has to explain away a LOT of flaws inherent in such a system. I don't believe it is possible to paper over so many flaws.
As for whether money should be tied in value to oil, I would argue that that is exactly what is happening now. I would add that money should be valued in energy units such as watts. This would mean that wind turbines would exist on the same footing as all other forms of energy. "Remember the I35W bridge--who needs terrorists when there are Republicans"
by Frank Schnittger - Sep 10 3 comments
by Frank Schnittger - Sep 1 6 comments
by Frank Schnittger - Sep 3 28 comments
by Oui - Sep 6 3 comments
by gmoke - Aug 25 1 comment
by Frank Schnittger - Aug 21 1 comment
by Frank Schnittger - Aug 22 56 comments
by Oui - Aug 18 8 comments
by Oui - Sep 107 comments
by Frank Schnittger - Sep 103 comments
by Oui - Sep 10
by Oui - Sep 9
by Oui - Sep 84 comments
by Oui - Sep 7
by Oui - Sep 72 comments
by Oui - Sep 63 comments
by Oui - Sep 54 comments
by gmoke - Sep 5
by Oui - Sep 43 comments
by Oui - Sep 47 comments
by Frank Schnittger - Sep 328 comments
by Oui - Sep 211 comments
by Frank Schnittger - Sep 16 comments
by Oui - Sep 114 comments
by Oui - Sep 1102 comments
by Oui - Sep 11 comment
by gmoke - Aug 29