EdwardBaiamonte
Platinum Member
- Nov 23, 2011
- 34,612
- 2,153
- Thread starter
- #181
You are correct - a gold standard does nothing to prevent a government from borrowing. It does practically nothing to prevent them from printing money and inflating their currency.
Of course Sam does not know what a gold standard is. If a bank prints excess money under a gold standard it comes back and
the bank goes bankrupt.