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To: Follies who wrote (53136)5/22/2000 6:27:00 PM
From: Little Joe  Respond to of 116764
 
People will accept it just as they did in Germany's hyperinflation. A barrell of money to buy a loaf of bread.

Live long and prosper,

Little joe



To: Follies who wrote (53136)5/22/2000 9:30:00 PM
From: Hawkmoon  Read Replies (2) | Respond to of 116764
 
A few well publicized hangings and everyone will gladly accept it, no problem.

How about those of us who would rebel against a Fiat valuation of gold in the thousands of dollars per ounce?

That is what would effectively happen were we to foolishly decide to return to the gold standard.

Hell, I already rebel against paying $200/ounce for a piece of shiny metal that may adorn my watch or rings.

And can you imagine the ruckus that would result in the gang-banger and hip-hop populations if these guys suddenly found their favored "Mr. T" style a bit much for them to afford.

Hell, it could create an incredible surge in violent crime as they stopped killing people over Nike shoes and start plugging each other over double herringbone necklaces.

And then we'd probably see dramatic inflation in the crack cocaine market as these gangsta rappa's struggle to maintain the lifestyle to which they are accustomed.

Talk about cause and effect.... Geezus...<VBG>

Some of these goldbugs need to think before they push such appalling concepts as the gold standard.

Regards,

Ron



To: Follies who wrote (53136)5/23/2000 8:57:00 AM
From: LLCF  Respond to of 116764
 
< congress could just pass a law to say a dollar is worth a dollar and you have to accept it. Anyone not accepting the paper dollar would be hanged. A few well publicized hangings and everyone will gladly accept it, no problem.>

They've already done that... Americans must accept dollars, the whole idea behind gold backing is that others in the world [I know 'who else is there' in this, the American Century] will also see value in the dollar in the 'bad times'.

DAK