dgordon. When you grow from nothing to something 13 times doesn't mean too much. That argument is totally irrelevant.
There is no way we could have had the kind of growth we experienced post WWII if we had stayed on the gold or silver standard. The monetary system we use now is not perfect, it's just the best we have available.
But it's definitely broken. We need to fire some of the people who should have warned us about the crisis we are now in but didn't and then move on.
I feel very badly for those who have suffered unfairly, and this includes millions of innocents, but these things happen.
Growing all the way to the largest economy in the world is irrelevant? I don't follow. Nor did I say anything grew "thirteen times."
"There is no way we could have had the kind of growth we experienced post WWII if we had stayed on the gold or silver standard."
What's your evidence?
"The monetary system we use now is not perfect, it's just the best we have available."
Again, what's your evidence? Why is this system better than systems based on precious metals (the choice of most civilizations to use money) or systems that, while they use fiat currency, do not allow (in theory...) arbitrary creation of such currency?
"I feel very badly for those who have suffered unfairly, and this includes millions of innocents, but these things happen."
These things happen because the economic decisions of those who govern guarantee they will happen.
There is no way we could have had the kind of growth we experienced post WWII if we had stayed on the gold or silver standard. The monetary system we use now is not perfect, it's just the best we have available.
But it's definitely broken. We need to fire some of the people who should have warned us about the crisis we are now in but didn't and then move on.
I feel very badly for those who have suffered unfairly, and this includes millions of innocents, but these things happen.