From my understanding, remove from the gold standard just allows government to arbitrarily make up the value of the now fiat currency, which is why we now struggle with inflation and soaring debt.
It seems obvious that you’d want your dollar to theoretically be fixed to another medium with a readily appraisable value simply to maintain stability and prevent government corruption through manipulation of the monetary supply.
But then again, I’m no economist.
In: Economics
It is tied to something… confidence and government stability.
Tying it to a shiny rock can be as arbitrary as anything else. You don’t want the money to be convertable to anything. Then whoever owns that thing owns your economy. Someone stockpiking gold can ruin your system. Finding new sources can overload it. And if you’re forced to own that thing, you can’t revolutionize sectors of your life.
Apple can’t make phones worth a trillion, Microsoft can’t make operating systems for 3 trillion, Boeing can’t make airplanes for 125 billion if your economy can only be worth how much gold is in Fort Knox. If you’re just going to lower the value of the gold, and say each dollar is worth miniscule amount of gold, then why not admit it is arbitrary and that let’s you print money to fight inflation?
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