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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (4212)	6/29/2001 10:01:43 AM
From: Hawkmoon	Respond to of 33421

I see that you were John Maynard Keynes in a previous incarnation..... Hmmm... don't know whether I've just been insulted, or whether I should take that as a compliment.... <VBG> But you're right about pegging the USD to a $50/ounce gold standard. That would be a FATALLY DEFLATIONARY move, and would show that Kemp has learned nothing from Churchill's own experience when he opted to once again peg the pound to the pre-WWI price of gold. That was one of the primary reasons Britain suffered so badly during the depression. Their central bank had little flexibility to stimulate the economy and force savers to become risk taking investors. Hawk