Source: The New York Times
quote: International users are of special concern, since old currency tends to be viewed as "useless" and of no value.
quote: A gold standard with 0% inflation or even deflation would be a free 2%+ ($400B per year) revenue to the wealthy for doing nothing.
quote: Inflation doesn't just target the rich. Not surprisingly it attacks the poor even more.
quote: For something like gold, which has zero productive value, prices can change on a whim.
quote: Would you rather have 2 grams of physical gold (current value approx. $86 on today's spot), 4 oz of silver (approx $91) or a pretty piece of paper with some new features signed by our new asshat Treasury Sec Jack Lew? Personally, I'll take physical all day long.
quote: The idea behind encouraging inflation is that it encourage investment [...] When it's invested it can be used for something; building houses, buying machinery, purchasing supplies. When it's in a sack under my mattress it isn't doing anything at all.
quote: Getting out of debt completely is a pointless goal. The US is not a household, so spare me the laughable credit card or mortgage analogies.