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Politics : Welcome to Slider's Dugout
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To: bobbyfullerfore who wrote (712)9/28/2005 1:37:22 AM
From: c.hinton  Read Replies (1) of 50126
 
perhaps it is only a matter of being pragamatic.if you want power and advancement you have to play the game,perhaps he thought he was smart enough to make the system work.... ......there is also the possibility that he realized that any change back to the gold standard was a political impossibility.......
I will add that the world economy when based on the gold standard was hardly a paradise on earth...... in fact The United States went through numerous economic crisis while on the standard.In fact one could argue that the US was never truelly on the gold standard in that private banks could issue their own notes until the creation of the Fed with little or no enforsed reserve requirements.
The bottom line is ... an economic system ,whether based on gold or Keynes is only as good as the people running it and often at the mercy of mere chance(acts of god,famine and war).JHMO
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