Gold standard isn't actually a standard.
The worth of gold fluctuates based on emotion more so then most currency. Just look at how the gold price shot up after 9/11 and the wars that followed.
Gold isn't 100% non-useable for anything else. Gold can have a value other then arbitrary because it does have uses other then jewelry. It can be used in industry and as such its value can change with demand.
Not only can golds value change because of demand it can be supplied by other means then just from a bank. You can mine it, and as such all you are swapping is currency supplied by a government for currency supplied by a mine site. Not much of an improvement if any.
Now that is just looking at gold in the ground. If we get fusion going then we can filter the seas of the world for far more gold then we have mined yet. Add in space exploration and we can have so much gold that we could all be housed in it.
Gold has value because it is rare. In time that rarity only gets less and less. As such the gold standard is subject to the same inflationary pressures on a system as money.
Wishing for the gold standard is wishing for old times.
Bookmarks