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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (53713)2/13/2006 1:42:05 PM
From: gpowell  Read Replies (2) of 110194
 
The gold standard itself. Exogenous flow disturbances in commodities used as money is the normal state of affairs under a commodity standard. The influx of New World treasure is but one such example - the more recent examples include the California gold strike of 1848, the Australian and New Zealand discoveries of the 1850’s, South Africa (1874-1886), Colorado (1890), and Alaska (1890). Also, technological improvement in gold mining, such as the cyanide process, served to disturb equilibrium. Deviations in the purchasing power of gold due to these disturbances lasted decades.
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