| > Yea, I think inflation is really exploitation and thievery. There is no other way to see it. CPI<0 is deflation, and history has shown how badly things go with that. CPI>>0 has had recent examples and people don't like it. CPI=0 is practically impossible, as you have measurement error and can easily slip into CPI<0 territory. So we're left with CPI≳0, which is what most monetary policy aims for: * https://en.wikipedia.org/wiki/Inflation_targeting > So in short, a gold backed economy might hinder progress or slow it down, but it won't actually enable thievery and exploitation. The era of the gold standard was the Gilded Age, when wealth inequality was at its highest. The US has reached that peak again by some measures—while other countries have not, which probably says more towards other social policies that are probably more important than currency regime. Further, the gold standard causes deflation, which is a terrible burden for those that have debt, like most farmers, and anyone who has a mortgage. It can grinds down wages. There's a reason why many regular folks hated the gold standard back in the day: * https://en.wikipedia.org/wiki/Cross_of_Gold_speech |