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To: Don Lloyd who wrote (420)	2/17/2002 8:43:12 AM
From: Ilaine	Respond to of 443

Thanks, Don. Correct me if I am wrong but essentially what he was saying is that the dollar/gold ratio should have been set at the market price. Which is the way that Isaac Newton tried to set it when he was Warden of the British Mint - apparently he got it a little wrong and died before he could fix it but left directions to fix it that were not carried out. And apparently Hamilton did set the dollar at the market price for both gold and silver at the time (1792). When I try to understand why the dollar/gold or pound/gold ratio is pegged, not floating, I get a headache.