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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Enigma who wrote (6872)7/25/1999 9:40:00 AM
From: Zeev Hed  Read Replies (1) of 81237
 
D. That is exactly the concept which is being abandoned because there is not enough of the stuff to "support" all the IOU's around, those IOU grow at the same rate as the world's economies. If you are going to go back to gold as the "only true reserve", you are already invoking back the principle of convertibility, if you do that, than gold becomes the "universal" monetary means and thus must be a certain percentage of the world GP. My thesis is that this will inflict perpetual inflation for reasons I have stated before.

Zeev
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