RE: gold & god

["David Shemano" <dshemano@xxxxxxxxxx>]

Jim Devine writes:

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I agree. If we had the gold standard, that would guarantee deflation, so
that we'd have waves of bankruptcy and a banking crisis. This would
encourage the one-sided class struggle to become two-sided. Of course, our
friends in South Africa and Russia would benefit, as would the gold-bug
contingent.

Seriously, how does the gold standard allow for the elasticity of credit
that capitalism needs?

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Why does a gold standard guarantee deflation?  What exactly do you mean by
that?

Conceptually, why do you think that a gold standard does not allow for the
elasticity of credit that capitalism needs?

How about some gold standard quotes from Das Kapital?  I understand Karl was
a bit of a gold-bug himself.

David Shemano