Comment: Some U.S. History ;

(See in situ)

In reply to comment: So did the founding fathers (see in situ)

Some U.S. History ;

Why did they insist on a Gold standard?

Answer: To keep Americans as honest as possible, when trading with each other.

Roger Sherman, a U.S. Congressman was short changed before he became a Congressman, when the value of the paper money from his colony was not equal to the value of the paper money from the next colony. He wrote this:

http://www.scribd.com/doc/44754604/Roger-Sherman-A-Caveat-Ag...

The original U.S. money was Gold, Silver, Copper,Coins, I have a coin book to prove this fact. English bankers wanted control of the U.S. monetary system so England could benefit from what the U.S. produced.

Since the "Value" of these coins was mandated to remain stable, they were used extensively in everyday trade, by all who were allowed to trade with each other. {Originally slaves had no money.}

The coinage act of 1792 was passed by congress into law, making current paper money un law full:

http://www.constitution.org/uslaw/coinage1792.txt

beesting