Why aren't we using the Gold Standard anymore?

We were discussing it in my history class and I was just asking this to myself.
Because if we printed more and more money, like what a waste of paper.
And then I asked myself, What if we use like half and half of each? We'll split the amount of dollar bills and gold that we make to make our regular purchases.
I think it might work...But I mean, I guess it would depend on the country.

What are your thoughts?


Cheers!

2012-03-10T18:41:10Z

I don't know where this question belongs..

2012-03-10T19:49:50Z

I know this guys....I was hoping this would be more like a discussion.

hep2012-03-10T20:52:15Z

Favorite Answer

i agree. the world would be a much better place if, at the end of the work week, my employer (i don't have one really) handed me a small drawstring pouch filled with gold coins, instead of the supposedly usual check.

i wouldn't (and i don't) trust the banking system and so at night i'd sleep atop my mound of gold like a dragon

10

Anonymous2012-03-11T03:41:05Z

Fiat money hasn't been backed by gold since 1971, I believe.

00

Anonymous2012-03-11T02:42:17Z

Money does not count.

00

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