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We can never go back to Gold as backing for money. Their is a finite amount of gold which means there would be a finite amount of money available. The expansion or creation of credit is what has allowed companies to go and borrow money to do whatever they want. If you do away with credit creation, companies cannot borrow money, hence no production and no advancement in technology etc.We just have to have tighter controls or more transparency int he system to ensure that we don't have carnage as a follow up to super excess.It amazes me that people think going back to the Gold standard will make a difference, yeah it certianly will but we would then have to go back many centuries and see what happens when people can't get acccess to money, they starve and their is many more poor.
We can never go back to Gold as backing for money. Their is a finite amount of gold which means there would be a finite amount of money available. The expansion or creation of credit is what has allowed companies to go and borrow money to do whatever they want. If you do away with credit creation, companies cannot borrow money, hence no production and no advancement in technology etc.
We just have to have tighter controls or more transparency int he system to ensure that we don't have carnage as a follow up to super excess.
It amazes me that people think going back to the Gold standard will make a difference, yeah it certianly will but we would then have to go back many centuries and see what happens when people can't get acccess to money, they starve and their is many more poor.
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