Questions On Devaluation Of Theu.s Dollar - 922 Words

Issue: Devaluation of the U.S dollar Argument: America needs to go back to the Gold standard to prevent the devaluation and collapse of our current fiat based currency system Intro a) Attention getter: In today’s money, 17 dollars was the equivalent to only 1 dollar in the 1940’s, that’s an inflation level well over 1000%. b) Thesis: The U.S government needs to revert back to the Gold standard because there are no controls on the government to prevent the devaluation and ultimate collapse of our currency system. c) Statement of Credibility: I am economics major and a personal investor in commodities, enforcing the need for me to have a diverse understanding of economic policies. d) Preview of body points: a. 1st body point: devaluation, controversies surrounding fiat and gold systems. b. 2nd body point: government printing problem, why government is responsible c. 3rd body point: a modified gold standard, transitioning, steps to take. Body Point #1: Problem/Controversy 1) Beginning topic: (The problem today is the) excessive printing which is devaluing the U.S currency. a) Problem i) The Dollar at one time had a stable valuation to Gold, under gold standard ii) The US Dollar is now a fiat currency iii) Inflation and Dollar devaluation is inevitable b) Controversy i) The Gold Standard strangles(inhibits) growth ii) The Gold Standard prevents recovery in hard economic times b) Quote: In the article From Constitutional to Fiat Money by Richard Timberlake, he indications