Coinage or Fiat?

I think Coinage is better for a stable economy, but it's easier to lose it with no way to replace it.

If that makes sense.

>>2229829
I agree

>>2229824
Gold standard all the way.

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>>2229824
Fiat.

Despite the fringe tinfoil hat conspiracies, the gold standard was abandoned for a reason - it was a cumbersome economic system prone to stock market panics and crashes.

Nations having control over their own monetary policies rather than leaving it to random factors like the world production of gold, has led to the largest period of world economic growth we have ever seen.

The period between 1945-1973 has been called the Golden Age of Capitalism for good reason.

Even during the Depression in the 1930s, nations that left the gold standard early on recovered before those that did not.

How exactly would a gold standard prevent currency manipulation?

The rules never stopped anybody before.

>>2229846
/thread

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>>2229846

Won't most economists, Fisher, Keynes, and Von Mises included, all say that an overextension of bank credit is a bad thing? I mean, cmon. There is literally no economist that argues opposite to that statement. Even J.S. Mill was heavily for Peel's Act, except for some shitty provisions that allowed the bank reserves to be geometrically shrunk by bank runs.

I mean the idea is, the overextension of bank credit is more easy with nonconvertible non-commodity based paper money. What say you?

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>>2229846
>>2229861
And here you can see how counter-cyclical monetary policy stabilized the US economy in comparison to the era of the gold standard.

>>2229871
Banks can be regulated, and indeed they were, until the repeal of the Glass-Steagall Act in 1999.

With Glass-Steagall there would have been no subprime crisis, not in that magnitude anyway.

>>2229890
Right, after the abolition of the gold standard the dollar stopped deflating, which was a great thing sometimes. Impossible when there is only one fiat currency being produced which is actually used as the basis for other countries exchange holdings.

The argument whether we should have gotten off of the Gold standard is a great one, one of the greatest in economics. However, I do think the future lies not in mining physical commodities. The core of this argument is why China is stabilizing their holdings with Bitcoin.

>>2229905
>"Developing" nations

Gold IS fiat

>>2229905
All money and currency develops out of coercion anyway. What difference does it make if I coerce you for a rock in the ground, or bison dollars?

>>2230167
>Gold is fiat
Gold can be commodity money or fiat money.

OP here, just so you know, I wasn't just talking about the Gold standard, I mean using coins as currency i.e. Coinage.

Just avoiding the inevitable derailing.

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R8 my gold

>>2230328
Well what a lot of people are referencing isn't even the gold standard, it's the gold exchange standard. Huge difference.

Using gold as coins predates the 20th century, mostly.

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It doesn't matter what type of currency you use; what matters is how it's managed/supplied. Gold is naturally limited and supply, but it is fiat all the same.

>>2230580
*limited in supply
fucking speech to text

>>2230342
That's gorgeous, roughly how much is that worth?

Money? Out of thin air? Seems awfully Fed to me. I don't want to go full Fed. Or even partially Fed.

>>2230863
>roughly how much is that worth?
1 Solidus

>>2230342
Do you have more ancient coins?