Peter Schiff : our economy grew more on a Gold Standard than since we left it

Peter Schiff : the idea that there is not enough Gold in the world is ludicrous it does not matter how much gold there is , is prices are just going to adjust to the level of gold that exists , money needs to be scarce that's what makes it valuable if it was plentiful if there was all the gold that we needed then it will have no value what makes it rare and valuable is that it's scarce . And if you look at it historically the gold supply increases by one or two percent a year that's it that predictable pretty consistent and it works great , we had the industrial revolution on a gold standard , people always well our economy cannot grow on a gold standard , our economy grew more on a gold standard than since we left it , if you look at the standard of living of the average American from let's say 1800 to 1900 and compare the way the average American lived and the way he lived at the end of that century and then compare that to the changes that are made since we've been on a fiat standard : it 's a much bigger difference , the standard of living rolled out faster and imagine how much wealthy your society will be how much less we would be all working how much prosperity and leisure we would all enjoy if we had continued on the gold standard for the twentieth century , instead we went off it and we sacrificed a lot of economic growth in the process .....- Peter Schiff in a recent Interview