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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (6379)	6/14/1999 11:54:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 81972

DoubleD... it was still bought because we were under a gold standard and gold was considered "currency" because of its ready convertibility into dollars at a constant set rate. And gold was confiscated AFTER the depression had been raging for some 3 years and 1/2 of all US banks had collapsed (all under the percieved safety of a gold standard, mind you). It was confiscated to prevent hoarding in the face of the massive deficit spending program Roosevelt had to implement to break us out of the liquidity trap (read: deliberately inflating the economy through gov't debt). Regards, Ron