what's Holla Forums's opinion on the gold standard?
From being here a year I've only seen people denounce it and laugh at ancaps for proposing it. All I know about it from a Communist point of view is that Marx said it'll stop being the world standard.
Here is what >>>/liberty/70478 had to say about it
It's completely irrelevant and even if mighty Odin snapped his fingers and returned the world to it the economy as we know it would completely implode
Melt it into door knobs.
No I meant what if we return to the gold standard. Why isn't (or is) it a good idea? The fellas at /liberty/ had pretty decent arguments.
In other words, would you prefer fiat money or gold standard until the revolution and why? If it's either to haste the collapse, why is the other then practically preferable for the system?
gold is less volatile then then fucking loans or cryptocurrency or anything else,
it already won long ago
You can't print your way out of a recession with the gold standard. Praise Keynes.
wouldn't it balance by itself? Yes, I was reading the lolberg literature
No
Melt it into dildos. Dildos actually have value.
It’s probably better for workers than fiat money but the capitalists have found that the printing press is a way to alleviate the stress of an economic crisis. If we had been on the gold standard in 2008 the crisis would have been apocalyptic and worse than the 30s but by the same token the real earnings of workers ever since the fall of the gold system has declined dramatically.
If you look at workers pay in terms of their gold-value, workers then probably made the equivalent of $35-50 an hour but commodities were more expensive at the time due to higher labor inputs so this doesn’t really show up in a typical inflation calculator which will tell you the minimum wage in 1968 is worth 11 an hour. Capitalism still makes commodities worth less in gold-terms but this is concealed by constant monetary devaluation.
But, would the capitalists really pay that much money today? I kinda doubt it, one of the beauties of Keynesianism is you don’t have to do the old-school much hated wage-cuts —the devaluation of the dollar does it for you. Hell, if your not getting a 3% pay raise every year then your taking a pay cut because the average annual rate of inflation is at least that high and governments have good reasons to doctor inflation data anyway (aka large masses of pensioners)
You can’t print your way out of recession at all. Read Sam Williams.