The Gold Standard
I’ve heard a lot of libertarians talk about wanting to return to the gold standard and how it would stabilize our economy. I understand that our fiat money only has value because we agree that it possesses value, but isn’t this the same case with gold? Gold doesn’t necessarily restrict the number of dollars either. The value of gold could be raised by the government to some exorbitantly high number as an excuse to print more dollars. Gold has no real value either, only value we agree on. Drawing of the point I made before, it’s rarity doesn’t really matter, as the government controls the value. Gold itself has no real value, its rarity, which is debatable, is the only thing that we believe gives it value. Wouldn’t all money just be fiat, regardless of its backing, since that to is fiat, unless money is somehow backed by something of actual value to life itself, and I have no idea what that could be. I know that not all libertarians believe this, and I’m not that educated in the subject. Why support the gold standard or our monetary system having some sort of physical backing? Isn’t gold just like fiat currency, with no real, stable value?
Article from r/Libertarian: For a Free Society