The Epic American Credit and Bond Bubble Laboratory Message Board

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

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To: gpowell who wrote (53707)	2/13/2006 1:22:40 PM
From: mishedlo	Read Replies (2) of 110194

We have been over this in the past. The gold standard was not that stable in the short-run. Certainly, more stable than the fiat currencies of the 70’s, but you can find many historical examples of gold discoveries changing the marginal value of gold and thereby changing the purchasing power of money. It typically took 20 years for the effects of gold flow disturbances to dissipate. Was it the gold standard that was not stable or fractional reserve lending that caused the instability? Mish

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