We should go on a variation of gold standard

Every dollar printed should be backed by gold, silver, platinum, palladium, beryllium, helium, or other elements somewhere in gigantic storage areas. Let's say a television set cost 850 dollars or half an ounce of gold. We later devalue the dollar and the same television set now costs 1,700 dollars, except it is still half an ounce of gold if you pay that way because the dollar has been devalued and not the international price of gold.

This would give us flexibility with our economy. Paychecks would be in terms of electronic gold. We could pound the dollar into the dirt and the majority of the country would simply pay with gold in day to day life and not be affected by it. This would allow us to temporarily detach our internal economy from our own currency until we had re-valued the dollar.

However, it would be illegal for Americans to spend gold, silver, platinum, etc. to purchase goods from other countries. We would use dollars to purchase foreign goods. While U.S. dollars would technically be valid currency for domestic transactions, most people would be using gold, silver, platinum, Canadian dollars and other foreign currencies etc. and our internal economy would be largely unaffected by devaluation of our own currency.

For example, you might pay your bar tab with 100 grams of gold, 6 rubles, and 100 pesos. The bartender gives you back 11 Canadian dollars and an ounce of silver in return.

The goal is to be able to be unconcerned with the dollar going up and down like a wild roller-coaster.

"The goal is to be able to be unconcerned with the dollar going up and down like a wild roller-coaster"

 

You realise gold is more volatile than USD right?

ryans - 

"The goal is to be able to be unconcerned with the dollar going up and down like a wild roller-coaster"


 


You realise gold is more volatile than USD right?


The point would be to free us up to not be concerned with devaluing our currency. We could jack inflation up sky high and the internal economy would simply keep moving along without using dollars.

Speaking personally, I think an economy based on trading baseball cards is the way to go.

“Electronic Gold” you mean Bitcoin?

Pustak -

Speaking personally, I think an economy based on trading baseball cards is the way to go.

I'm finally rich! Yay!!!

Americans can't even figure out the metric system, and you want to get change back in grams, rubles, pesos, ounces, and Canadian Dollars???

what could go wrong?




Chango

Pustak - 

Speaking personally, I think an economy based on trading baseball cards is the way to go.


I have three pages of Ozzie Smith Donruss and Topps cards, including his All-Star cards.

I'm going to sell a couple and buy a Ferrari.

Make it wood and I WOOD