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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (27652)	4/19/2000 1:05:00 PM
From: TheStockFairy	Read Replies (1) \| Respond to of 42523

Ok, now you got me going. (in a good way though) Using the gold standard as an example: 1) Advances in gold mining technology would boost inflation. (wow.) 2) Any political unrest withing Russia and Johannesburg would cause fluctuations in interest rates, causing high unemployment and deflation. (Has there been any political unrest in Russia and Johannesburg over the last 20 years?) 3) Commitment to the gold standard prevents the Federal Reserve from expanding the money supply. Look back to Hoover's policies to reconcile the depression while he was strapped to the gold standard and see if his choices were better thought out. These are just a coupla arguments against any commodity backed currency, using gold as an example. We could go on and start talking about Greenspan, I have time to kill.