Trump talked about bringing back the gold standard and as we know he's in the process of taking out the Rothschild thieves. I don't know anything about economics but people say everyone will be more prosperous if the gold standard comes back. How will the gold standard affect us? Thanks
EDIT: Thanks for all your comments guys! Y'all helped me understand
Deflation also discourages entrepreneurship and capital investment (hurdle rate is higher). People who own homes with mortgages have to pay back their dollar-denominated loans with more expensive dollars. Businesses are disincentivized from providing a static salary. Gig jobs become harder to get. The pace of spending slows. Exports fall. Deadweight loss of existing taxes and subsidies become much more egregious. Transaction costs of options and futures contracts increase. Insurance policies must be managed more carefully. Long-term leases are disincentivized. Long-chain production activities (like mining and oil extraction/refining) become compressed, discouraging investment. There are mix effects that make it all very complicated.
Instead of all this, best situation is stable money, with neither inflation or deflation.
Why would people not invest in mining? There are huge profits to be made. If I invest 100 dollars today and make 1,000 tomorrow, that is greater than the rate of deflation.
The decrease in prices will not be sudden and chaotic. It will be a slow, heavy, downward pressure, that takes time to occur. In the meantime, of course people will still invest and make transactions. The point of an economy is to make money and to secure resources.
People will just have to calculate their savings as more valuable than they are currently. This will make people more hesitant to make risky investments, which is a GOOD THING (Bernie Sanders voice). It will encourage frugality, and wisdom in investments over speculation and risk-taking.
Prices will naturally decrease in a gold based economy. Wages will too, slowly. Yet, the value of your money will increase. A dollar saved today is 1.50 in 2 years.