Comments by "bighand69" (@bighands69) on "The Gold Standard" video.

  1. That is fine when the system is properly applied but when it is not it can mean massive manipulation. Gold cannot be manipulated as it is a physical object.
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  2. It worked perfectly until 1967 and it was nixon who took the US off the gold standard and anything he did must be questioned for a reason.
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  3. Fiat can always be manipulated because it is all down to human management.
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  4.  @AL692  Gold is gold. You cannot make lead look like gold and call it gold. Tell us how would you manipulate gold as a substance?
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  5. +Katherine Hans Von Rotes schild Zitler The gold standard creates stable pricing and allows purchasing power to increase. On a gold standard one gold mark would buy 10 loaves of bread today and in 10 years time it would buy 15 loaves of bread. What this means is that the consumer would have their purchasing power increased. That means real wealth would increase. Workers under a gold standard would not actually need a monitory pay increase as their existing pay would just allow them to buy more. Under the last gold standard gold could be bought for $35 in 1947 and in 1967 it was still $35 even though real wages in that period increased from about $1800 to about $5000. The very private banks you criticize are the ones telling you that a gold currency is a straight jacket.
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