> ...they’ll learn why the gold standard stopped being cool.
Because governments are massive borrowers and the gold standard tilts the market towards people having to repay their debts from time to time?
Literally the reason not to be on a gold standard is to enable money creation. Creating money has winners and losers - the losers shouldn't be happy about that. I own enough assets that I've been making out like a bandit (eg, by owning gold) but the situation is hardly fair to people who think that working productively at a job should be linked to better outcomes.
Because governments are massive borrowers and the gold standard tilts the market towards people having to repay their debts from time to time?
Literally the reason not to be on a gold standard is to enable money creation. Creating money has winners and losers - the losers shouldn't be happy about that. I own enough assets that I've been making out like a bandit (eg, by owning gold) but the situation is hardly fair to people who think that working productively at a job should be linked to better outcomes.