Modern Monetary Theory has reached the game - I would like to see the option of the Austrian Economic Option of the Gold Standard to be included in the game.
Interestingly perhaps this option should be optioned for the free market paradise option to occur - free market Austrian Economics.
What would you see as the economic impact in the game of a return to the gold standard?
- There could be different Gold Standards - and Different Ways to Implement it.
- Reopening the Gold Window that Richard Nixon had closed - foreign governments redeem currency for gold
- The Average Person here could not exchange the US Currency for Gold.
STANDARD 2 - BiMetallism
- The Reintroduction of Silver to Coinage that Lyndon Johnson removed in the US in the 1960s
- The Removal of FDR’s Gold Reserve Act allowing the average person to exchange the US Currency for Gold.
- The Average Person here could exchange the US Currency for Gold.
*Since the closure of the Gold Window by Richard Nixon economic charts have paralleled an increase of productivity with a decreased of wages - seen this explained by Max Keiser.
** Wages should increase - for the poor and the middle class
** This should increase the poor and middle class income
** Short Term Interest Rates would rise - could be quite high for an intermediate period.
To remove Money Supply, Money Created by Central Bank, i.e. through quantitive easing
** Long term inflation should be kept low - good for the poor and middle class savings
** Standard 1 - Government spending would be restrained as money creation and supply would be limited.
** Standard 3 - Money creation and supply limited to an even greater amount.
**Corporations will dislike paying labour greater wages
**Should reduce the financialization of the economy, reducing capitalists chances of speculation - increasing their dislike of you.
** With the Batternburg Group trying to assassinate you.