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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (93279)11/27/2001 5:16:45 PM
From: Don Lloyd  Read Replies (1) of 132070
 
KT -

Don, I have a problem with the idea that gold supply is fixed. Mining technology has improved since the days of the gold standard. Also, there was lots of inflation in 16th century Spain because of the gold standard. Gold was money then, so it was monetary inflation. Finding a big mother lode could cause inflation under a gold standard. And, what are the odds one of the billions of planets up there is made of gold? <G>

Nothing there to argue with, except gold would probably still be better than green cheese, among other alternatives. -g-

Regards, Don
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