Are The Federationists a supporter of a return to “hard money”?
Not necessarily. Fiat currency is, as noted above, not the cause of our present economic problems. Those who argue for a return to “hard money” (gold and silver based currency) must square their opinion with the Depressions of both the 1930s and 1873; both occurred while The United States was on a “hard money” system. There are serious problems with basing currency on “hard money” with the most sensitive of them being building yet another dependence on foreign sources of raw materials, especially Gold, in order to grow the monetary base.
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