The Gold Stand: Is it actually a good thing?

In 1933 the U.S. got off the Gold standard. Was that for the best? Apparent every country that got of the gold standard during that period experience growth in their national production ever since 1932 while countries who stayed on it felt a hefty decline of 15% in production. Seems like obvious evidence that the Gold Standard only caused problems.

If you look back into history though, countries had abandoned the Gold Standard during World War I. The result: chaotic fiscal and monetary policies occurred in the countries. I don't know about you but would you want to do business with someone who is messing around with their interest rate so much like we are today in 2011? Sounds like that's what was going on back then. Gold offered more reliability in how a country set its interest rate and therefore gave foreign countries a clear idea in what they were investing in. The only reason it hurt the U.S. was because its economy was in the whole and they couldn't lower their interest rate. Otherwise, the Gold standard would make the U.S. a much more reliable investment.

Sounds like as long as you've got your economy in order (no great depressions going on) then a country on the Gold standard is someone you'd want to invest in...

http://www.econbrowser.com/archives/2005/12/the_gold_standa.html