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Misc says

Here lemme give you an example. Let's say there is 1 million silver ounces in the economy. Then stupid people "save" 10% of it. Now there is only 900000 ounces in the economy. Either the economy contracts or prices decline. Either way there is just an even greater justification to save even more.

People would still have to use that silver to buy or rent a home, food, cars, etc. If there was a hoarding problem, just replace the income tax with a tax on stored silver.

DeficitHawk says

I think devaluation of our currency through inflation is the lesser evil vs. the inability to modulate the money supply to meet economic needs.

There is a 3rd issue as well: Whether we can trust anyone with the power to create money out of thin air.

DeficitHawk says

I especially dont want to grant private silver mine owners anywhere in the world the right to create money at their profit instead of our government.

They're doing work and should get paid for it.

DeficitHawk says

As long as the currency depreciation is predictable and slow enough that you can spend, loan, or invest it before it devalues, I don't see a problem with it.

Then you should like silver, which depreciates very slowly as new silver is found. Also consider the ongoing demographic collapse, which reduces the need for new money.

Misc says

So, the economy goes to zero as everybody "saves" money.

Not going to zero because people need to spend money to live. There is a question of how to get people who have silver to lend and invest. The answer is high enough interest rates.

Misc says

Then stupid people "save" 10% of it. Now there is only 900000 ounces in the economy

What? They hoard it in money bins like Scrooge McDuck?

That's the only way 'savings' are 'removed' from the economy.

Most people will deposit their savings in the bank or invest in stocks. Deposits are loaned out.

@MolotovCocktail

Please careful how you use quotes. I never said "Then stupid people "save" 10% of it. Now there is only 900000 ounces in the economy." Misc said that, I was replying to it.

HeadSet says

MolotovCocktail

Please careful how you use quotes. I never said "Then stupid people "save" 10% of it. Now there is only 900000 ounces in the economy." Misc said that, I was replying to it.

That's a known bug in the PatNet quoting system, I am afraid. I changed it manually just now.