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To: Hawkmoon who wrote (53482)	6/1/2000 3:44:00 PM
From: LLCF	Respond to of 116764

<After all, that is all a currency represents... a means of exchanging goods and services and public confidence can be shaken in ANY currency under the right conditions.> I guess you forgot that I'm not a gold standard advocate... or do you cut and paste that standard drivel on every post? <In fact, as was presented in an earlier article several days ago involving speakers to the World Gold Council, it was partially DUE TO NATIONS RETURNING TO THE GOLD AFTER WWI WITH A PRICE PEGGED TO THE PRE-WAR PRICE OF GOLD THAT WAS SUBSTANTIALLY RESPONSIBLE FOR THE DEPRESSION.> Yea like they wouldn't have just demanded interest or pre-war currency value anyway. The point is GOLD is here, and IS a currency, as recognized by all economists on the planet except you... that was the point of the link. DAK

To: Hawkmoon who wrote (53482)	6/1/2000 3:48:00 PM
From: long-gone	Respond to of 116764

<<In fact, as was presented in an earlier article several days ago involving speakers to the World Gold Council, it was partially DUE TO NATIONS RETURNING TO THE GOLD AFTER WWI WITH A PRICE PEGGED TO THE PRE-WAR PRICE OF GOLD THAT WAS SUBSTANTIALLY RESPONSIBLE FOR THE DEPRESSION>> Don't most of the "informed economic thinkers" of today understand the depression was greatly caused by excessive use margin debt by banks investing in the market bubble of the day & gold had nothing to do with it? The theft from my grandfather(and many like him) was just an easy out?

To: Hawkmoon who wrote (53482)	6/1/2000 3:55:00 PM
From: Don Lloyd	Respond to of 116764

Ron - [...Btw, if we ever did return to a metal backed currency, I would certainly not favor gold simple because its rarity is out of proportion to the world's ability to grow economically...] If you were to worry about gold as a currency, it should be a worry about a high rate of increase of quantity, not its scarcity. Any amount of gold will support any growth rate of an economy, with its value in goods-exchange automatically adjusting as required. Regards, Don

To: Hawkmoon who wrote (53482)	6/1/2000 4:56:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116764

Silver is far too plentiful and consumable, and light weight, and would impose no discipline. You might as well have nickel or copper.

To: Hawkmoon who wrote (53482)	6/5/2000 1:00:00 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 116764

Ron - newaus.com.au "...Most economists cannot stomach the idea of a gold standard because, it is argued, there is not enough gold to serve the modern world. Without an adequate supply of money, it is held, the world will fall into a deflationary spiral. While increases in the supply of goods and services raise benefits to human beings, more money only undermines real wealth generation. Consequently any given amount of money is adequate to provide services of medium of exchange. In a free market a general fall in prices in response to rising real wealth is a mechanism through which wealth expansion permeates throughout the economy. With falling prices and a rising purchasing power of money people can now secure for themselves a greater amount of goods and services. Money is often said, should function as a yardstick, and therefore its value should be stabilized and fixed. However, money is not some kind an abstract unit of account, detached from concrete goods. It is a commodity demanded mainly as a medium of exchange. Like all commodities, its price in terms of other goods is determined by the interaction of supply and demand. It would seem, therefore that the chaotic state of world financial markets can only get worse, unless gold, which was chosen by the democratic process of the market, is allowed to assume its monetary role. Allowing gold to assert market wishes implies that there cannot be any role for the central bank. In a truly free market the most marketable commodity that serves as the medium of exchange must be completely free. No institution is required to regulate the supply of money in a free market." Regards, Don