Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pater tenebrarum who wrote (4062)	5/31/2001 3:57:14 PM
From: re3	Read Replies (1) of 74559

re having a gold standard, a poster that we all (or 99 % of us) respect a lot sent me this private email awhile back on the topic of revisiting the gold standard in some way, shape or form... "Nope. I like money tied hard to real GDP, as that is the real measure of wealth. Unfortunately, every nation finds it easy to cheat on the currency vs. GDP connection while it is much more difficult with a metal standard. And we measure our GDP totally different than does the rest of the world. The good news is that currency traders are generally bright guys, though they haven't seemed to figure out our phony GDP #s yet. The currency vigilantes help keep discipline intact as well as gold would. After all, in the old days, people debased coins and promised gold that didn't exist."

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