The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: The Wharf who wrote (107296)	2/29/2008 12:43:46 PM
From: Hawkmoon	Read Replies (3) of 306849

>> I will ask why this to you is socialistic? WR.. I would think you'd see the obvious socialistic aspect of a gold standard.. Gold is a commodity.. It's used in all kinds of electronic applications, as well as jewelry. But when the government can come in and dictate to the private market that the price of gold will be fixed at $20/ounce (as it was for almost a hundred years), that's government interference in a private market. "The United States, though formally on a bimetallic (gold and silver) standard, switched to gold de facto in 1834 and de jure in 1900. In 1834 the United States fixed the price of gold at $20.67 per ounce, where it remained until 1933." econlib.org Furthermore, the government can confiscate gold, as they did in 1933: the-privateer.com Thus, the government can make you sell them your gold, or at least require you convert it into some commodity application like jewelry or industrial applications. Hawk

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