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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (76919)	3/3/2000 9:43:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

tommasso, back in the 1920s Ludwig von Mises predicted that the Soviet economy would collapse because there was no price mechanism. Austrian economics is based upon sound principles while the FIAT money game and its supporting economists seem to think that debt can expand without limits and without consequences. If Mises were alive today I think he would agree that a most severe dose of TL & EV is unavoidable. mike ho ho ho

To: Tommaso who wrote (76919)	3/3/2000 9:55:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Tommaso, I'm not so sure gold is the way to go. But I do think that hard money is a goal that everyone should be in favor of. The main problem with fiat money is that it's hard for anyone to know how fast the money supply and credit should be growing. Instead of markets determining it via market level interest rates based on savings, investment, return on capital etc..., the Fed is setting the interest rate based on an inflation statistic that is probably politically manipulated or at best difficult to measure. Setting the rate too low or too high can create all sorts of excesses, booms and busts. Wayne