nauseus

Circumstance and wars led the US dollar to being the world reserve currency. Dollar selling due to the Vietnam War spending ended the BW agreement - the gold price fix had been too low for too long. These days, responsible economic policy seems to have left the building - the dot com crash and GFC just resulted in years of easy money and then insanely low interest rates in the US. The Federal Reserve seems to be no longer fit for purpose, even if it ever was. I do not know what kind of linkage to gold might work - probably too late now - some bright spark might come up with something. What evidence do you have of gold price suppression? https://www.reuters.com/article/jp-morgan-spoofing-penalty-idINKBN26K325 It's not the first time either = it looks like they just did it again last week: https://reaction.life/he-who-has-the-gold-makes-the-rules/

But that's another story......

As I said before, it's far too late to revert to the former "standard" but some kind of backing might be doable.

Well done, Bill.

I understand everything you say but don't agree with a lot of it and certainly don't care for you patronizing remark. Most fiat currencies today have nothing to back them, except the word of increasingly untrustworthy governments. The US has been fortunate to have the Dollar as the world reserve currency for 70 years but that seems to be about to change soon. The link between paper currencies and gold could be adjusted to fit with the gold reserves available, that could back them at a practical, and not necessarily fixed, level. I see something like that as better than nothing. Of course I disagree about the gold price suppression - there are several big banks that have interests in keeping the price down and at the moment they are able to mostly control the price. However, I so think that your "free-floating" phase may be just around the corner. Gold is real money so I do have an interest in it.

It can be used pretty much anywhere. The sub-topic was dollar decline and causes - not economic growth. If the gold price was to keep fair value, instead of the price being suppressed, then it could be used to back future alternate currencies.

Well this mystical metal from ancient times is still money, which has survived as such for far longer than any paper - well managed or not. .

The decline of the dollar.

Why don't you check the numbers?

The debt was not increased - the "fight" against the consequences of a major crisis was still ongoing. Yes, I know about the debt calculations. Thanks.

Whatever. the effect was the same.

Bah humbug. The only massive increase was due to Covid year 1 (2020) up 4 trillion.

This is getting tiresome. I'm talking about your link here: https://www.propublica.org/article/national-debt-trump 1/ Donald Trump Built a National Debt So Big (Even Before the Pandemic) - false. It was little changed annually from Obama until Covid. See below and (4). 2/ The national debt has risen by almost $7.8 trillion during Trump’s time in office - false - it was up about 6.2 trillion with at least 3T of that due to Covid. See chart. 3/ And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war - true - but he did reinvest heavily in the military. 4/ The chart seems to reflect the real data and show there was no particular increase in debt before 2020 (Covid).

Biden's dollar

They were also hamstrung because they couldn't print truckloads of magic money.

It is your linked story that contains the false and obtuse claims. You did a search but not so much research.

False and obtuse claims that completely avoid factoring in Covid but easy to cut and paste, I suppose.

If you slap a trend line through the noise then. yes, really. Why not see how it's done against gold? https://goldbroker.com/news/gold-bull-market-comparisons-1970-2000-1812

A rather narrow view. The AUD is also declining. https://au.investing.com/currencies/aud-usd

It would be difficult to achieve now but most of the USD decline has occurred since the end of Bretton Woods.

How did you figure I was talking about the Great Depression?

I don't think that much could have stopped China's rise in terms of manufacturing power.

Disagree (not about the acting). Nixon removed the gold backing for the USD and that was the start of the decline.

You can get the girl out of the bar, but can she make you leave too? ????

Well, given that the world seems to be led by the insane to a large degree, we had better watch out! The USD is already being bypassed as a form of payment by some countries and this trend is likely to continue. The BRICS alliance, plus recent partners, seem to be interested in an alternate form of digital currency. Whatever happens, it needs to be remembered that all previous dominant fiat currencies eventually failed and lost their status. https://blockchain.news/news/brics-alliance-considers-creating-new-currency