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To: LLCF who wrote (11989)12/19/2001 11:59:42 PM
From: Ilaine  Respond to of 74559
 
Well, we do know that if a central bank sets a fixed rate of exchange for gold, there will be a different result than if the rate floats, and when you put silver into the equation, the ramifications expand.

The "gold standard" doesn't mean simply using gold as money, it means setting a fixed rate of exchange for gold and money. "Setting" doesn't mean via free market, it means via a central bank or treasury, whichever can define what is legal tender.