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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (46852)	1/8/2000 9:49:00 AM
From: lorne	Respond to of 116760

Hi Alex. Here's some interesting reading on Canadian currency but I guess it could apply to any paper money. Found this on another gold site. " If the dollar were fixed, falling commodity prices would force producers and their employees to deal with the price shock on their own. Sales and profits would decline, forcing wages and employment down. By letting the dollar fall instead, the government forces all Canadians to bear the cost of falling commodity prices and keeps wages and profits up in the resource sectors." Full story >>> nationalpost.com " One reading of the history is indisputable: The Canadian dollar went from good as gold in the 1920s to a low of 63¢ (US) in 1998 for the simple reason that governments wanted to be free from the constraints of sound money. The result, today, is a devalued national currency and a floating exchange rate that even its defenders admit has been used as a cover for bad economic policy." Full story >>> nationalpost.com " In effect, if not in form, Canada went off the gold standard in 1929. However, the export of gold was not officially banned until 31 October, 1931 by an Order-in-Council. The banks and the government also used moral suasion, through appeals to patriotism, to convince Canadians not to convert dominion notes into gold (Bryce, 1986)." Full story >>> nationalpost.com