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Politics : Welcome to Slider's Dugout

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To: Fun-da-Mental#1 who wrote (4943)	4/14/2007 4:16:55 PM
From: c.hinton	of 50468

re pre 1972 gold....it must be remembered that if a country was hemoraging gold ,interest rates on gold loaned to that country to support its gold linked paper would be forced up ...driving down stocks and bonds and increacing unemploymet. so yes .golds absolute value was stable but there was 0 ability to mitigate the affect of high interest rates and high debt via devaluation of paper currency. check this link for 10 worst US crashes mutualfunds.about.com with the gold standard every crash resulted in years of heart breaking depression and painfully slow recovery . relatively speaking gold did'nt have to soar..... the value of everything else plummeted to depths unimmaginable today.

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