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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Zeev Hed who wrote (75074)3/3/2001 8:08:53 PM
From: brightness00  Read Replies (1) of 436258
 
> patron, if gold ever replaces "fiat money" it will have
> to be priced at more than $10,000/ounce, and will have
> to keep going up in price as well. That is probably why > it will never happen (g).

Gold Standard doesn't have to use gold itself as the currency of exchange. The dollar can be fixed to a certain amount of gold, be it $300/oz or $275/oz doesn't matter, so long as it's fixed. Then we can be done with this nonsense with beauracratic monetary policy decision making we have had in the past 75 years. Alan Greenspan actually is one of the rare FED men who are sympathetic to this point of view from a pure economic perspective. The road block is political feasibility. We will just have to wait until the politicians and the media get over the nonsensical belief in stimulation through devaluation.
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