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To: Mike M2 who wrote (77870)12/3/1999 9:49:00 AM
From: BGR  Respond to of 86076
 
Mike,

That will be sad as all the progress in modern monetary policy will then regress. The main reason behind the gold standard in the middle ages was that gold coins may not be easily counterfeited, hence it is a store of value. Well, several other cheaper alternatives now exist. It was never meant as a check on government ability to control monetary policy - though that could have been a side effect.

-BGR.