State Rep. Mike Pitts, R-Laurens, introduced legislation that would replace U.S. dollars with gold and silver coins as the recognized legal tender within the Palmetto State. By Pitts' estimation, rampant federal spending is bound to leave the U.S. government broke one of these days, thereby rendering dollars worthless except as absorbent wipes...

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927 hits 3.0 (3 votes) Share Favorite | Flag 11 years ago by KikiPeepers

Should America return to the Gold Standard?
State Rep. Mike Pitts, R-Laurens, introduced legislation that would replace U.S. dollars with gold and silver coins as the recognized legal tender within the Palmetto State. By Pitts' estimation, rampant federal spending is bound to leave the U.S. government broke one of these days, thereby rendering dollars worthless except as absorbent wipes...

http://www.bankrate.com/finance/per...


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11 yrs ago, 2 mos ago - Wednesday 3/10/10 - 7:25:08 PM EST (GMT-5)
This is a dumb idea.
11 yrs ago, 2 mos ago - Wednesday 3/10/10 - 9:31:02 PM EST (GMT-5)
I thought the gold standard just meant our dollars were backed by gold?

I bet you didn't know that, RonPaulBot264.
11 yrs ago, 2 mos ago - Wednesday 3/10/10 - 10:23:44 PM EST (GMT-5)
well, I'm no expert

but inflation happens sometimes.
and then you could get people obsessively melting down their money because the coins are worth more than what they represent
11 yrs ago, 2 mos ago - Thursday 3/11/10 - 3:35:42 AM EST (GMT-5)
Yes, The Gold Standerd Should be restored.
Otherwise you can pump out billions of dollers to infintity.
11 yrs ago, 2 mos ago - Thursday 3/11/10 - 3:59:37 AM EST (GMT-5)
On Thursday 3/11/10 - 3:35:42 AM BellaKazza wrote:
Yes, The Gold Standerd Should be restored. Otherwise you can pump out billions of dollers to infintity.


You can still do that under the gold standard... It's just that the money is devalued instantaneously instead of hitting at a later date, but you can reel it back in with heavy taxation (which is pretty much how you'd resolve the issue under our current system).

My thing is, sometimes you NEED leeway with your spending (times of war for instance) and the gold standard isn't adequate. Other times you really need a standard... I'd be more inclined to accept a silver standard if we're going to back with anything.



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