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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: bart13 who wrote (99536)11/9/2008 4:36:47 PM
From: Robin Plunder2 Recommendations  Read Replies (2) of 110194
 
"I submit that middle grounds can and do exist between a 100% gold standard and a 100% fiat standard, and again note that the actual problems are not between those two options since neither have worked over history."

so far you have not fleshed out examples in which a gold standard has failed...i would say we need that before reaching conclusions.

also, many comments here about how we might have too much gold or too little gold...when in fact we have several thousand years of history in which either of these has not been a serious problem...so positing that we need to change our entire monetary system in order to accomodate these possibilities would not be a reasonable conclusion.

sure, we have had some situations of fluctuation in the amount of gold (eg mexican gold goes to spain) or silver (eg, comstock lode in Nevada)...but one can adjust to these variations, and they fade with time...I would also note that to expect a currency to have a single fixed value for a wide range of goods over time is also not conistent with observation...eg, in Irish potato famine, price of potatoes probably went up a lot in terms of gold, or in times of drought food prices might go up, etc...it is not a valid argument against a monetary standard to say that the standard fluctuates over time.

Robin
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