re: #187 lawhawk

Shelton is an unqualified know nothing hack. She’s a gold standard nutjob. Literally. She’s for returning to a gold standard. She’d be the worst thing to happen to the Fed since Trump took office and dumped Yellen (which I think was solely because she was a woman and was smarter and more knowledgeable than he ever was). So he picked a guy who was tall (central casting is a thing for Trump).

There was a time when I was at least mildly interested in the gold standard, but it was never a central issue for me. More of a thought experiment. The more I’ve seen of the economy though, the more I have come to believe it is a stupid, stupid, stuuuuuuupid idea.

Beyond currency manipulation, imagine the nightmare a recession would be as investors in the stock market sell off and buy gold, weakening the dollar even more as shit hits the fan.

In an economy that operates on debt, as much of our current economy does, it would be a never ending fucking nightmare of worsening recessions.