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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST
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To: Ahda who wrote (37689)7/24/1999 2:01:00 AM
From: tshane  Read Replies (1) of 116764
 
"It [gold standard] was an Achilles heel. It curtailed growth and created to a certain degree the depression of 29. "

Darlene, isn't it interesting that an "it" which is only a thing and can't make decisions is blamed ("to a certain degree") for the Depression of '29. As the Fed accepted gold for payment under the gold standard it (this "it" does make decisions and decide policy) didn't replace the gold with money in circulation, thereby contracting the money supply needed to combat recession. Now is that the fault of the "Gold Standard" or the mishandling of the gold standard by the gods running the Fed.

This absurd mantra "the gold standard helped cause the Depression of '29" is repeated over and over and suits the propaganda purposes of a Fed who doesn't want to accept responsibility for its mistakes and the fiat money people who want to take the control of money out of your hands and put it entirely under theirs and their printing presses.

When the inevitable disruption of our current monetary system comes in the near future, do you think the Fed policy makers will go on CNBC and confess how their ignorance and mishandling of monetary policy led to out-of-control inflation? I don't think so. They will blame it on another country's mishandling of their economy or on the "gold bugs" or (you fill in the blank)

For now their propaganda is working pretty well isn't it?

best wishes, RAJ
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