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Just a guy from Michigan who'd like to see the country get back to its founding principles. Freedom.

Politics, News & Issues > Political & Economic Theory Should the United States abandon the Federal Reserve?

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Pretend with me for a moment, that we were on a pure gold standard and every dollar in your pocket (and bank account) represented a certain weight in gold. Being that the supply of gold is limited to the output of gold mines, the value of your dollars would remain virtually stable, even as the economy grows. As technology continues to increase our productivity, thus driving prices down, your stable dollar would be able to purchase more and more, and your cost of living would steadily decline. Today however, it is generally accepted that prices rise over time, as well as when economic produ...

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