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

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To: Hawkmoon who wrote (99550)	11/9/2008 8:04:12 PM
From: RJA_	2 Recommendations Read Replies (1) of 110194

Gold standards are suspended during wars of survival of the state. The state comes first, ahead of the money. The money is sacrificed for the state. Example: WW1 War not for survival of the state: Boer War. Gold standard in effect. Gold standard prevents profligacy in issuing medium of exchange. War of survival requires it. Chirchills mistake was to pretend war time inflation did not exist.

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