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[–] carnold03 ago 

It's definitely a dream. A nice one I imagine, but a dream none the less. I'll just focus my energies into breaking international governments parasitism of the US. It's the first step in the economic war against the welfare state.

[–] [deleted] ago 

[Deleted]

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[–] vastrightwing [S] 0 points 1 point (+1|-0) ago  (edited ago)

Like you said, a gold standard does not prevent debt. Fractional reserve banking is leverage. It's way out of sight. As a country,  we are insolvent. We can never unwind our debt. The only recourse is debt jubilee. This happens frequently for the reason you mentioned. The gold standard or asset backed currency would return risk to lending. Right now there is no risk to central banks: central bank policies reward leveraged speculation and enable financiers to play with no skin in the game.

An asset backed currency would restore normal risk to the financial system for everyone. Either that or we continue to use the military to enjoy the benefits we have with fiat.