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To: Ilaine who wrote (36)3/21/2001 1:26:56 PM
From: Don Lloyd  Read Replies (1) of 443
 
CB -

...As an aside to Magner, from what I am reading the Austrian economists didn't believe in a gold standard, they believed in commodity backed money. No more money would be created than what was needed for business purposes, which is what I have been arguing.

When an Austrian economist refers to 'commodity backed money', gold is included as a possible commodity choice, but not the only possible one.

Regards, Don
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