all gold standards fail, page-18

vnglorious.
last itme i checked, Kings didnt rule any nations that actually were major players in the world
and the coin defacing you talk of is the same as the paper printing,
its obvious you have missed the point about gold
People trust in it and have done for thousands of years,
it can not be created unless you mine it, or reduced in quality unless you tamper with it, but a GOLD standard is exactly that, its a link to an amount of GOLD that is audited as pure, recorded, numbereed and offset against whatever monetary system you want to use as the everyday currency.
be it paper, or electronic money.

if you actually look back at the gold standard that was the held against money supply (either british empire gold standard or american) then you will see that the money supply and inflation were kept in line for many, many years.
You could argue that the less flexible nature of a gold standard will see some curtailing in some small way certain types of investements that make people richer.
however, these type of schemes are exactly the ones that lead to disparity between rich and poor and should you care to look at the way the world works best, its when there is a well paid and large middle class.
i do hope personally that there is a gold standard of some sorts reintroduced and kept tight;ly audited.
the current paper ponzi scheme that has endured since the 70's has been shown to be just a massive watering down of peoples purchaing power due to the inflation that creating new money does & wages have not kept up in real terms for the majority of people while the 'money tree' has been growing so many new leaves.
As any 1st year economy student would tell you,
if you take away the purchasing base, you ultimately erode the strength of any economy.