In Money We Trust: New Forbes Documentary Asks For Return To Gold Standard

in #gold6 years ago

There is a new Steve Forbes PBS documentary out titled In Money We Trust which dives into the questions surrounding money, the history of it, how it comes to be trusted and considered reliable etc. In the film, Forbes presents the argument for why we should return to the gold standard, and why it's time for us to focus on and keep up the conversation on the dollar.

The documentary is available to stream online here

John Stossel made a short version of that new documentary which can be seen posted above.

"The dollar has lost over 80 percent of its value."- J. Stossel


Thanks to the Federal Reserve, the U.S. dollar is arguably in a huge bubble right now and has already lost a great deal of its value over the last several decades.

It's prompted a number of economists and others to suggest that perhaps this might be a self-destructive path that isn't going to have a good ending. Some say that we should return to the gold standard as a solution to the problem.

But there aren't many economists who are ready to agree that this is the right path to take, that we should return to a gold standard. Let's just wait and see how it goes.

Old Ways Vs New Ways

As well, there are many others who are excited for the potential of cryptocurrencies to disrupt this system. However, because of the volatility involved with cryptocurrencies you will find many mainstream skeptics who express discontent and suggest that they don't think it's possible for Bitcoin or another coin to take over as a dominant currency for this reason.

Still, you can find people worldwide today using cryptocurrencies to pay for a variety of goods and services.

The Forbes' documentary concludes by arguing that the only way to restore trust in the U.S. dollar is for the country to return to that old system, establishing a gold-backed monetary standard.

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Personally, I don't believe the dollar is salvageable.

They can't realistically return to "THE" gold standard. There isn't enough gold on the planet to back the dollars that would have to be "printed" to satisfy the insane debt they've racked up. Not to mention, to pay that off would cause crippling inflation.

They might be able to go to A gold standard, but what happens when there's a run on the gold reserves? I know the first thing I'd do is exchange every dollar I have. It could change at any time! Who in their right mind wouldn't?

I'm betting on cryptos for the long run.

GREAT EXCELLENCE