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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: jackjc who wrote (35722)	7/11/2005 7:50:11 AM
From: critical_mass	Read Replies (1) of 110194

Yes, gold backing kept prices stable for 140 yrs before 1930 except for temporary war related flareups. Yet the word "flareups" might give the impression that wars and bouts of wartime inflation are exceptional cases rather than standard features of the monetary history landscape. These events happen with unpredictable regularity and follow from the ability of the government to create more pieces of paper than the gold backing can cover.

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