Quote Originally Posted by Psycho4Bud
-Revert back to the gold standard....I don't think there is an economist around that would agree with that considering that most of the world is pegged to the U.S. dollar. This is a world economy now whether the isolationalists like it or not.
Wait, what?

Any economist worth his salt understands that reverting back to the gold standard would be the best thing to do for the sake of the value of the dollar. How anyone can say that backing a currency with gold would be a bad idea is a complete mystery to me. Let me get this straight, you want a FIAT currency to remain in place, a currency based on consumer FAITH ALONE, instead of a currency backed by a VALUED MATERIAL that is exchangeable for the currency?

Not to mention all the countries that back the dollar (of course, ours included) are essentially getting taxed everytime they purchase crude oil. Quite literally for every 1% drop in the dollar's value, crude goes up $4. So basically, all the countries that operate under a different currency system are getting a rebate on crude oil, which does not help the price at all.

I'd love to see a comment from you about this when crude hits 200/bbl and gold is at 1600/oz. Because trust me, this will happen, and the terrible value of the dollar will account for it.