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Is it time to go back to the Gold Standard?

Dick:

pb we had better start backing the dollar with something other than hot air soon.
Gold ,silver iron, soya beans I don't care but something that is tangible.

Cutekannan:

No. Except for use in jewelry and certain decorative or industrial applications gold has no intrinsic value. In past times gold could be used as a standard to assure that certain transactions would have inherent value. But those days are long gone. And gold, like diamonds and other items are no longer needed to add an artificial value to other goods and services backed by governmentally issued and backed resources.

Goodbye, Cruel World:
Goodbye, Cruel World:

I think a commodities based currency is better than a fiat currency. I prefer a market basket approach to a single commodity such as gold or even a class such as precious metals. The problem is picking the commodities that can actually be used for backing a currency.

.......:

I do too. But I'm waiting for this to resurface from the fringe. And yes, finding the baseline is never easy and it shifts over time. Thus I believe in using buggywhips and coal stoves as a basis.

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