Anonymous
Anonymous asked in Social ScienceEconomics · 5 months ago

Should America just end the petrodollar, return to the Gold Standard, and stop these dumb wars to appease the inept Koch brothers?

Update:

Funny how contards accuse me of being a liberal when I'm Libertarian.

Update 2:

Not blaming America. Blaming the rent-seeking idiots turning our country into a war based economy

Update 3:

America is a good country and it deserves better.

Update 4:

@The Big Cat Retired.

I'm aware of that. Crises make good opportunities for better change. The dollar will crash and we will implement a new currency and at last return back to local decision making and Republican values instead of this imperial nonsense.

Regardless, it's going to crash no matter how long we wait. The longer we wait, the more disastrous the collapse will be.

Update 5:

Debt deflation is the price to pay to restore our economy.

Think about this: If we have another recession with interest rates being this low, we will crash. There's no more Keynesianism or monetary policy that can fix it.

7 Answers

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  • 5 months ago
    Best answer

    sounds OK to me

  • Anonymous
    5 months ago

    The United States of America returning to the gold standard is strategically impossible.

    Why? Because there isn't enough gold in FT Knox?

    No. Because there isn't enough gold on the planet.

  • Zirp
    Lv 7
    5 months ago

    Ending the petro-dollar or returning to the gold-standard would mean no more getting deeper in debt, which would cause the economy to shrink (unless you tax the very rich out of existence).

    Stopping the dumb wars would be a good thing though

  • Oiy
    Lv 4
    5 months ago

    No, we don't have enough gold in reserve. Would you ask the second place, Germany, it might want to do that. I would keep $ more than Euro anyway.

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  • 5 months ago

    Maybe you're a libertarian but you certainly are not an economist. If we went to a gold standard one of two things would have to happen. Either the price of gold would skyrocket or the amount of dollars in circulation would plummet. The one thing worse than inflation is deflation. It would almost certainly cause a world wide economic depression the likes of which we have never seen.

  • Chuck
    Lv 7
    5 months ago

    The petrodollar has been under attack for a long time already. The gold standard would be a good thing. The Koch brothers are a bit strange, not really supportive of Trump, as you might expect.

  • Anonymous
    5 months ago

    Isn't interesting how American liberals always seem to find a way to blame America for everything?

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