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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: Claude Cormier who wrote (67313)4/7/2001 6:46:38 PM
From: Hawkmoon  Read Replies (1) of 116764
 
a gold standard that would allow each national bank to issue national currency at the same rate as the rate of growth in gold stocks plus or minus a specific percentage

So the rate of economic growth in a nation should be dependent upon the amount of gold they have?

Why is it so wrong with having the value of a nation's Fiat currency reflecting its economic status, as well as its legal and financial transparency? After all, that is what truly makes a currency valuable, economic growth and respect for the rights of investors. And that is reflected by the increase in the USD, DESPITE the fact that our economy has slowed down.

The truth is that foreign currencies are weakening against both the USD and the POG. And this reflects their over dependence upon US markets to prop up their economic numbers. Once they restructure their internal economies and their property and investing laws, they will see investors move capital into their economies.

The gold standard was a product of the poor respect for, as well as un-enforceability of, business contracts. And money being transferred back and forth required a standard to be set against due to illiquidity of international markets.

But this isn't a problem in a system where we know instantaneously the value of a currency anytime of the day. And having to rely upon the gold standard debilitates the necessary inter-reliance between nations that will keep conflict on an economic level and not a military one.

Regards,

Ron
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