This is my main question. But what type of gold would we use to back it if we did? Then what would happen to our currency if someone like say Russia had a lot of the gold that we used to back our currency and put all of it on the market for sale would nt that automatically kill our currnecy. I was for a gold back currency but these are questions I heard someone bring up and it did got me to thinking, which is bad because I didnt have an answer for it. So if someone could give me some insight into these questions that would be great.
under a true gold standard the price isn't fixed
prior to the great depression you were right we were under a fixed gold standard which allowed them to create vast amounts of credit which eventually imploded in our faces
also just in general we don't need a strict gold standard persay
but having a quasi government entity that fixes interest rates and monetary policy using fiat backed by nothing is obviously gonna rape the little guy over the long haul and is one big pyramid scheme that is dependent on the have nots willingly to continuing to participate (keep money in banks, allow trillions of taxpayer dollars be spent to save the banks, not hoarding gold, and paying taxes)
the issuing power of the currency should be returned to the people and gold should at least be allowed to float as a money/competing currency type thing
