22 Oct '12 15:26>
Originally posted by whodeyReading is hard. Having an artifically low amount of money in the economy limits economic activity not the government. "As an economy’s productive capacity grows, then so should its money supply. Because a gold standard requires that money be backed in the metal, then the scarcity of the metal constrains the ability of the economy to produce more capital and grow.”
Translated: It put a straight jacket on the beast. Now the beast has been unleashed and the world is it's victim.
I just love the words "limited government" In fact, I would just assume make a recording of it and play it over, and over, and over......
In the end, however, we all know the culprit of the futuristic collapse. It would have to be the failure of capitalism!!! 😠😛😵 LOL
David A. Mayer quoted in the Wiki article on the gold standard.
So if you want an economy that produces at the level of say the 1800s. go back to the gold standard.