Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (68780)	1/2/2007 9:54:05 PM
From: skinowski	Read Replies (1) of 74559

Gold production would become the world's main activity, which is ridiculous LOL! Agree - I like your Q's much better. Moreover - for this, I will probably get shredded by the economists on this thread - but I think that before long banks would have to start using their gold holdings as reserves -- for issuing "deposit notes" in excess of the value of their physical deposits. Can't get very far without credit, after all. In due course, that would lead to loss of faith in those receipts (currency)... to runs on banks... etc. Haven't we been there before?

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