I told myself I wasn't going to get into any fights on Twitter today. Didn't realize that merely pointing out the obvious fact that no gold standard has survived would be so controversial. Anyway. Going to just drop the topic, since there's nothing to debate.https://twitter.com/TheStalwart/status/1160886342345199618 …
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Gold is just too good and pure for this world.
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We're so on the same page here. Here's what I wrote some time ago: http://andolfatto.blogspot.com/2011/03/out-of-thin-air.html …
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Ok, if gold is that useless why not go short on it? Good luck with that.
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A true gold standard has never been tried though.
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Here's another problem with gold-backed currency: Goldbugs think a gold backed currency would be so honest and sound. But who's going to hold the Gold bars that back the money? And how are these gold 'banks' going to be properly monitored? Fat chance of that.
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gold failed; and the people failed to hold their politicians accountable for many various reasons.. Bitcoin can fix that; so long as people will it
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What I want to know is your stance on transubstantiation.
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We need a new idiom for “tried, true and dependable” since “gold standard” makes no sense for this usage.
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Joe is confusing a monetary system built on gold with gold itself. The systems’ failures have been for political reasons. Yet gold remains tried true, true and very dependable.
End of conversation
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Same arguments the leftist give in regards of communism. It’s good in theory but history shows it will fail and collapse sooner or later.
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