re: #131 wheat-dogghazi

This obsession with a gold standard is another example of magical thinking. Somehow, **GOLD** will solve all our problems, including ones that don’t exist.

Gold bugs usually hate the idea of fractional reserve banking, so they want banks to return to the old and very conservative rule of lending only up to a certain amount of money (gold) as they have their vaults, In other words, if Bob’s Bank has $2 million in reserve, that’s the limit on what Bob can lend others. And Bob can’t “double-lend” — that is, use the same amount of reserves for two different loans…..

The fact is, there isn’t enough metal, much less precious metal, to back up the currency of the United States.

((Fuck Gold! Let’s demand a Protactinium Standard! That’ll show ‘em!))

Really. This is just stupidity and should be mocked at every opportunity. These people are, at heart, Luddites, Ninnies, and Feebs. Gold Standard? Math is beyond their ken.

Let the word go forth on the Interwebs!