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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!

Update:

I don't know where this question belongs..

Update 2:

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

3 Answers

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  • 9 years ago
    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

    Source(s): as it is, i pay for my purchases with my heart&soul ..'..**^
  • Anonymous
    9 years ago

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

  • Anonymous
    9 years ago

    Money does not count.

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