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To: Hawkmoon who wrote (35835)	6/24/1999 3:44:00 PM
From: Claude Cormier	Respond to of 116768

<<The gold standard did not prevent the great depression or financial crisis throughout the 1800s and early 1900s. It actually, IMO, exacerbated them by restricting the options available for restoring economic confidence. >> True. But it remain to be seen what the recent uncontrolled currency explosions will do to our economic future. It may be a lot worse. <<The masses would rather have a job than gold at $2,000/ounce>> Don't be so sure. One can go a long way without a job if he is accumulating gold at current low prices for the time when it will be $2000/ounce and many will be out of a job.. Is the current situation of the masses really much better with all credits cards maxed out and their stock portfolios full of internuts.com. <<In the end it all came down to men dealing with monetary policy in a manner that maintained market expectations and confidence. >> So true. And do you really feel confident with the current level of indebtness of both our governments and our people? This unrestrained race to supply money at will, may well have very deep consequences. The truth is there may be no way to constantly maintain order, discipline and confidence. Most certainly, the current expansion in the financial markets will not have the desire effects. At least gold has all the physical properties that makes it a unique store of value over the long term.... Unique, because it will always be there and always have an intrinsic value that grows over time in terms of the paper currencies. I would agree with you that gold is far from being the best store of value. But we cannot compare gold to a small business or a investment in Microsoft, 10-15 years ago. You compare gold to currencies in a saving account or a T-bill... in in that sense, I prefer gold in all its current and future digital forms to any bank account with governements "I owe you's" that become worthless over time.

To: Hawkmoon who wrote (35835)	6/24/1999 4:55:00 PM
From: tshane	Read Replies (2) \| Respond to of 116768

<<The gold standard did not prevent the great depression or financial crisis throughout the 1800s and early 1900s. It actually, IMO, exacerbated them by restricting the options available for restoring economic confidence.>> You keep making this inane statement. For a man that purports to be so rational and logical you sure use a lot of non sequiturs. How about some remedial classes in logical thinking? The gold standard had nothing to do with the Great Depression other than how it was mismanaged by the gods of money management on whom you project so much power and divine wisdom. As they sequestered gold, Federal Reserve policy prevented some of the gold from becoming the basis for more money and instead they used it for reducing member banks debts. In essence this removed money from circulation during a time of bank failures and economic contraction. Geez, Ron, just maybe that contributed to the Great Depression as they did just the opposite of what they should have done. WARNING: Jim S, don't learn your monetary policy from Ron Reece or you'll just become part of the brain-washed masses who out of fear worship at the feet of and give all their power away to self-serving bureaucratic agencies. Agencies who see it as their job to manage your money, your children's education (indoctrination) and your health care in their divinely inspired vision of how things ought to be. These are the same socialist agencies, who pay Ron's salary so he can spend all day posting on the Internet, and who he wants to "manage the global economy". Ron can't even fathom that there are some of us out here who don't want the global economy managed nor all of our needs managed by some "educated" (again read "indoctrinated") elitists with Messiah complexes. These are the same agencies who take credit for all the success and none of the blame for what goes wrong in their mismanagement because they would have to admit how little they know and this would throw all of their sycophantic followers into a panic that mommy and daddy aren't really there for them. This kind of all-of-the-credit-none-of-the-blame mentality leads to irrational and illogical conclusions (non sequiturs) that the gold standard contributed to the great depression ergo the gold standard is bad ergo gold should be nothing but a commodity ergo people who see gold as a symbol of the freedom of the individual to control and manage his/her own life are all vermin who should be brought into the fold or annihilated. This same kind of thinking concludes our children are killing each other because we have guns, rather than seeing our children are just following the examples of the anti-social and immoral behavior being demonstrated daily by our leaders and the collective mentality.

To: Hawkmoon who wrote (35835)	6/24/1999 6:22:00 PM
From: Mark Bartlett	Read Replies (1) \| Respond to of 116768

Ron, <<I certainly didn't think you'd understand since you're so centered upon a gold standard and require that artificial "crutch" instead of relying upon the economic and political soundness of your country.>> Appreciate that this would likely enslave 80% of the world's poorest countries forever .... or until one of the "ecomonic and politically sound countries" owns them. Gold offers some of these countries some independence they would not otherwise have. MB