Comments by "SmallSpoonBrigade" (@SmallSpoonBrigade) on "Was Dropping The Gold Standard A Mistake? | Economics Explained" video.

  1.  @stevencooper4422  Any metal that's rare enough to be useful as a standard is also rare enough to not be very helpful in the long run. The rarity of the metal is what makes it valuable enough to be able to use as a backing for the currency, it also means that if you've got much growth that you're eventually going to run into issues with there not being enough of it for everybody to have the money that they've earned. At which point, you've got basically the same problem we've got with more "currency" in circulation than we really have with one dollar being potentially owed to several people. As long as only one of them wants it at any given time, there's no problem, but if more than one of them want it at the same time, there are issues.
    5
  2. I fail to see an inherent problem with that, the only way around that is to also prohibit the government from issuing bonds.
    1
  3. The going up is only reall a problem because our taxation and regulatory policies encourage the wealthy to stockpile money rather than allowing workers to share in the growth.
    1
  4. So? Gold has significant issues, not the least of which is that you can't necessarily conjure up enough to cover the growth in the economy forever.
    1