To start off my blog with a random thought, we need
to do something about these gold-standard supporters. Going back to the gold standard right now would
just cause more harm than good, not to mention the fact that it would be very,
very hard. The credit standard is
the primary reason that our world is in so much debt. I can agree with that fact, but credit has
done so much more than just shove our world into debt. Without credit we would not be where we are
today.
Credit allows our economies to grow past the amount
of gold that we have. It spurs industrial
growth and technological improvements.
Credit is the reason that our GDP has been allowed to grow to over 15
trillion dollars. The gold standard also
takes away the ability of the Federal Reserve to use monetary policy to help
our economy. Whether you think that the
government should interfere in the economy or not, you have to see the
reasoning against the gold standard. It
just does not make sense. Ron Paul
somehow convinced other Republican leaders that this was a good idea. Sure credit has its downfalls, but I would
take the good with the bad any day.
People need to learn how to take responsibility for themselves and their
money, and our economy would be fine.
The only thing that is going to pull our economy out of this recession
is borrowing and spending, and credit allows this to be possible.
