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Comment by andsoitis | Hacker News Reader

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andsoitis·

what is your alternative proposal and what problems would it solve better?

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(presumably Geis’s comment was sarcasm?)

Not really.

A return to the gold standard would solve quite a bit. The ability to manipulate the money supply is too much power for any person or organization or government for that matter. This is the lifeblood of the economy, it is 50% of every transaction, of course when that gets corrupted everything goes with it.

I don't see how the Euro is ever going to go back to being backed by gold, that makes no sense at all. It never was backed by gold since the day it was created.

Europe is a lost cause. I pray for the friends I have there, and they will always have a home in america they will be welcome in.

> Europe is a lost cause.

I can't say I share your perspective, but then again living in Europe I'm probably not objective.

> A return to the gold standard would solve quite a bit.

What would it solve? Do you know the reason why the gold standard was abandoned?

I am well aware, the united states was issuing credit for gold they didnt have. Other countries got upset and wanted their share of the gold back. Rather than trading under a fair economic system, we abandoned the gold standard. Nixon blamed "speculators", but it was and is plainly evident that we didn't have the gold we claimed we did.

Wealth is not limited by the amount of gold you can mine from earth.

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