Quote:
Originally Posted by pocketkangaroo
What problems do you feel the gold standard would fix?
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I don't think it would fix it at all, but I do believe it was the major effect of the economy's fall. The money we printed was backed up by the value of the gold the U.S.A. owned, so we did not print more money then was backed up by the gold.
We were removed the Gold Standard and printed money that was backed up with nothing, so it was like writing checks when you knew you had no money in the bank.
There is so much more involved in why our economy is in trouble, I just believe that was one of the major problems.