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

To: long-gone who wrote (6451)	6/16/1999 9:44:00 AM
From: Hawkmoon	Respond to of 81996

Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make anything but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility. Richard,... you never seem to retain information. How many times have I and others told you before than Clause 1. refers to individual states, not the Federal Gov't. Its intent is make sure that no state attempts to undertake its own foreign policy, make war, or run their money presses at breakneck speed without some standard to assess the value of their currency by. It exists to prevent states from usurping the authority and credibility of the Federal Gov't. What are you? Some kind of Secessionist trying to recreate the causes of the American civil war?? Gold was a tool to facilitate creating this standard of exchange since neither a telecommunications system existed, nor was there a national bank to coodinate and govern the nation's monetary policy. Some patriot you are. You'd love to thrust back into an era where there is no Federal Reserve, and EACH PRIVATE BANK HAS THE RIGHT to print their own money. If that system was so damn good Richard, why was there so much economic turmoil from the days of our nation's founding up to the great depression?? What is more important to you?? A vigorous policy of "HARD MONEY" vigourously pursued, or an economy where people are actually working and actually have an opporunity to make some "soft money". The US had some VERY HARD MONEY right after the great depression since so much of it was destroyed by loan defaults and bank failures. There just were not very many people who had it, except those who had held cash before the crash. Sometimes you're so snobbish... Favoring the wealthy while thumbing your nose at the proletariat standing out in the cold in the soup lines. Your hard money policy is what impeded their pursuit of happiness via their trade or craft. Yep... Richard's solution. Hard money backed by gold, economic contraction, massive unemployment, deflating prices that favor those who hold cash (ie: the already wealthy), and never a hint of inflation to ever be permitted. Thank god you're not in charge. Regards, Ron