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Old 11-01-2009, 03:05 AM   #15 (permalink)
checkthisout
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There is no reason to back money with gold unless you think people that mine for gold or people who happen to find some on their property are more valuable to society than everyone else and should thus be richer.

Currency stability is provided through sound banking regulation and currency value is provided by what we do as a country.

A generation of people about to retire has sold off our ability to produce turning us into a country of consumers with debt and no savings, they are dismantling our educational system making our country more stupid and they have raised a generation of people who think that sitting behind a computer and typing or running a cash register at a store that sells chinese junk is useful work.

Our ability to produce, the intelligence of our population and our ability to move about efficiently are the things that give us our wealth and give our currency value, not backing it by gold and going "see, we have nothing but at least our currency supply is limited by the amount of precious metal we can mine".
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