What does Holla Forums think of reverting back to the gold standard for currency?

What does Holla Forums think of reverting back to the gold standard for currency?

No point. Our goal is to abolish the commodity form, not strengthen commodity fetishism.

How will backing up currency with gold strengthen commodity fetishism anymore than actual money does?

Gold is basically the poster boy of commodity fetishism. An almost completely useless metal that's highly desired because of social power attributed to it.

If we're talking about actually existing socialism, what is the point? If we're talking about under the current circumstances, that will just lead to exacerbated problems of accumulation at the international scale. Because under a gold standard (and under the euro) when you enter a deficit, you have no choice but to cut costs and wages, to the benefit of firms from surplus nations who can use their gold or Euros to get shit cheap. Gold standard, like the Euro, is a vehicle for austerity.

Under gold standard, you are tying the money supply and credit to the supply of gold at your disposal, meaning that the only way you have to stimulate the economy when there's not enough gold is to fuck labour.

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austrians plz.

you can say goodbye to debt fueled growth and say hello to deficit of the means of circulation

it's like you retards never learn
plus murrika and chinks have biggest gold reserves
rest of the world will be their bitch
literally

An idiotic idea posited by libertarians who missed the last century of history (a running theme with them).

It would bring stability to the capitalist system.

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The resulting CATACLYSMIC DEFLATION would be the ultimate in left accelerationism so why not?

KeK

Also India, Russia etc

Why have currency?

Someone ITT who has read Marx? Suprised tbh

The only currency accepted after the revolution is going to be mad pussy tbh.

this

wrong flag

This ironically fucked over our last actually socialist Labour government in the UK along with international oil crisis (but history only remembers those damn unions though!)

If it wasn't for that particular Labour government's stubbornness to stick to the gold standard (and the ensuing economic crisis that came with it), Thatcher may never have came to power.

Yeah so you can blow your gold standard out yer arse.

There is not a single instance in modern history where the gold standard hasn't come back to bite workers in the ass.

lmfaoooo this tbqh fam 👌👌😅👻👻👻👻💀💀💀👽👽👽👽👽👽💣💣💣

centralized currency is statist.

kek

Fractional reserve banking causes inflation, which is class warfare. Abolish all private banks and replace them with a central mutual credit bank that makes loans in the interests of society.

gr8 idea

Is this bait?

Wonder who could be behind this post…

It's mere right-wing memery designed to stir populists against "government regulation" and the usual boogeymen the right uses and making sure that this segment of the populace stays thoroughly spooked.

It isn't a viable way to run the current economy, nor is it something a socialist would want.

impossible without fucking up the production of fictitious capital. Having the gold standard literally limits the amount of money you can print which will be a catastrophe if we take into account the fact that commodity production is now based on fictitious capital.

You wouldn't also happen to believe flat taxes to be class-neutral, and VAT/sales tax to be "fairer" than income/property taxes, would you?