SUBSIM Radio Room Forums - View Single Post - Sir Winston Churchill to feature on new banknote

Tchocky · 04-26-13, 07:51 PM

Skybird is rapidly turning into GT's very own Tea Party Commissar.

Nevermind that by switching to the gold standard you're swapping a halfway-predictable inflationary model for one that is completely arbitrary and subject to massive unexpected supply shocks. Better hope the random assortment of countries mining gold doesn't get any more random.

Nevermind that practically nobody with a serious scholarly and/or professional interest in currency trading advocates going to gold. The arguments for going back to the gold standard, as evinced in this thread, have nothing to do with how beneficial the gold standard is, but with the perceived problems with fiat money.

Most of which are imaginary.

As for Winston, good for him! It's too soon for Thatcher, legacy nonwithstanding.

04-26-13, 07:51 PM	#11
Tchocky Navy Seal Join Date: Jul 2004 Posts: 5,874 Downloads: 6 Uploads: 0	Skybird is rapidly turning into GT's very own Tea Party Commissar. Nevermind that by switching to the gold standard you're swapping a halfway-predictable inflationary model for one that is completely arbitrary and subject to massive unexpected supply shocks. Better hope the random assortment of countries mining gold doesn't get any more random. Nevermind that practically nobody with a serious scholarly and/or professional interest in currency trading advocates going to gold. The arguments for going back to the gold standard, as evinced in this thread, have nothing to do with how beneficial the gold standard is, but with the perceived problems with fiat money. Most of which are imaginary. As for Winston, good for him! It's too soon for Thatcher, legacy nonwithstanding. __________________ [SIGPIC][/SIGPIC]