Thursday, June 23, 2011

Gold standard or competing currency?

A quote with no easy source:

When the same medium is used both as a store of value and as a medium of exchange, the result is an ineventable conflict between the interests of debters and savers.
...
In modern America, most people are both, with their savings equal to their debts, giving a net worth of zero.

The question on the title asks if the US should return to the gold standard OR allow a second gold-backed currency, which would be legal tender.

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