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To: Thomas M. who wrote (111)	3/28/2001 9:01:11 PM
From: Ilaine	Read Replies (1) \| Respond to of 443

I think we are talking about apples and oranges here. Don and I got started on the Gold Standard and I was talking about 100% gold backed dollars. If every dollar must be backed by .048 ounces of gold then the number of dollars can't increase until new gold comes into the system. The point I was getting to is that unless every dollar is 100% gold backed at all times then when there is a run on the bank it can't be satisfied. Assume that everyone in the country loses faith in gold-backs and decides to convert them to gold. Unless they are 100% backed then the only thing maintaining the value is misplaced faith.