Jim S, is it ok for me to ask dumb questions ?
I still think that paper currency needs gold as a backing.
Is this called a gold standard ?
When the USA had a gold standard, what was the rate of inflation during
this period ? Also, what was the ratio of amount of currency available in
circulation and available by banks to loan, to the worth of gold held in
reserve by the price of gold, charted say weekly or monthly for the gold
standard period.
If the wealth of the USA increased by 10% over a years time, and enough
paper money was printed to reflect this, was the gold reserve increased
by 10% weight or by an 10% increase in value, reflected by the POG ?
<< gold IS currency>> seems to me that the coin should say that its
value is the POG rate. But this seems to only work under a complete
gold standard for the currency.
I have a First Class USA post office stamp I brought 10 years ago that
has a value on it of what ever the rate was then, why can I not use it
today without an addition stamp added to make 33 cents, say it was
22 and now 33, so would I do (33-22=11) a 11 cent stamp added to the
old 22 cents stamp, or would the post office not reconize the 22 cent
stamp ? Seems to me the 22 should reflect 22 + usa inflation rate for
the period since brought, to now. Maby the 22 is worth more than 33,
and i get a refund using it to send a first class letter ?
If I returned this 22 stamp to post office today, can i get cash for it ?
thanks
doug |
