gold

Rules for a debate: Please note that the following terms are non-personalized and are issued directly before any debate I make: 1.Saying I didn"t cite my sources is not a supporting statement, common knowledge such as "issuing more money causes inflation" does not need a source. 2.No straw man fallacies please, an example of this would be saying "We should not return to the gold standard because that means carrying around bars of gold and that isn"t practical" 3.Don"t lie; an example of this is saying "carbon 14 can"t be broken down except by nuclear fission!" Yes these are actual quotes from people that tried things like this, which is why I made these terms. Gold standard: For this debate I will be discussing how we should and why we should return to the gold standard: First and foremost is inflation, a gold standard would self-regulate how much money is issued as the US Treasury could only issue as much dollars as they can account for in gold, in addition, allowing a currency to be exchanged for gold would renew people"s faith in the US Dollar as humans innately consider gold and silver valuable, a piece of paper connected to precious metals will be automatically considered more valuable than a piece of paper connected to a unconstitutional central bank (But that is another debate so I will not get into it now), seeing a dollar bill connected to gold and silver will almost eliminate inflation as it will be considered valuable, and value is only what we assign to something, as long as everyone considers it valuable, it is, gold is just better at convincing people that it is valuable than paper is. Eliminating inflation will be better for investment as less money will be lost to inflation in savings, increased investment will lead to more jobs as more businesses will be established, more jobs will lead to more revenue, which means more tax revenue, with steadily increasing tax revenue, the deficit will be eliminated. Next is deflation, with the return of the gold standard and the elimination of inflation business owners will lose the need to charge more for their goods and services, leading to the dollars increase in value, which will lead to an increased minimum wage as 8$ will be worth more, slowly reestablishing a middle class, and shrinking the gap. Third a gold standard would eliminate any centralized monopolization over the economy, the Federal Reserve will not be able to stage bubbles and bank runs, but the Federal Reserve is a different debate though. I do not intend to create a straw man argument so I will state the opposing argument, and refute all of them: Some people argue that the gold standard would not allow for immediate action, I am refuting this by stating that the US Treasury could easily keep a reserve of gold and silver for immediate relief, and issue certificates against these reserves. They also argue that carrying around bars of gold and silver would not be practical, This is by far the weakest of their debates as no one was suggesting carrying gold bullion around but gold and silver coin and certificates. Third they argue that in our current economy you could not buy something with gold and silver, This is refuted by the fact that Texas has created the Texas Bullion Depository, and in Texas you can create an account with the Texas Bullion Depository by depositing gold and silver bullion or coin like depositing dollars into a bank, and transfer funds from it like a bank account, and use this account or physical gold and silver to pay your taxes, which led businesses to accept bullion and coin. All of this is economics or common knowledge, please do not use a blatant statement like saying I did not cite for this debate, anything else I am more than willing to (and did) provide sources as seen below: Sources: http://truthinmedia.com......... http://www.nytimes.com.........