re: #139 Devil’s Advocate

Gee, I dunno, maybe because we had the greatest economic expansion and growth in world history from 1776-the early 1900s on a bi-metal”fixed” standard.

And during that time we were constantly mining more, and we had not yet switched from a primarily industrial economy to a primarily service-oriented economy. Switch to the gold standard and every dollar we send to China and India for manufactured goods will eventually result in us sending them Gold… that we wont have anymore, and wont get back.

There simply isn’t enough gold on the planet for this. Human capital will increase, but it will exceed the material available to cover the currency. The money supply naturally deflates.