The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Box-By-The-Riviera™ who wrote (15326)	12/8/2008 12:06:12 PM
From: Tommaso	Read Replies (2) of 71451

The weird thing is that gold miners seem to have done well in both extremes of depression and inflation. Though actually, what pushed Homestake up in the 1930s was deliberate inflation of the price of gold by U.S. government policy. Somehow Roosevelt convinced himself that just raising the price of gold by about 75% would automatically cause prices in general to rise. Instead, people just went on holding their paper dollars, even though they were suddenly worth much less on the world market. I would not have wanted to be an artist in Europe trying to live on meagre (U. S. dollar) savings at that time. One person who was suddenly hit was the philosopher George Santayana, who had settled in Rome. But he remarked (philosophically) that all his life he had managed to live on half his income, so he wasn't so bad off after all.

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