Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pogbull who wrote (26852)	1/4/2003 10:01:22 PM
From: Ilaine	Read Replies (1) of 74559

Centuries ago the Chinese discovered that paper money works just fine as long as the quantity printed isn't excessive. Too much paper money causes inflation, a problem we don't have at present. Others have extolled the virtues of paper money, including Adam Smith and Alexander Hamilton. On the other hand, history shows us that gold money leads to spectacular depressions, another problem we don't have at present.

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