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Non-Tech : Money Supply & The Federal Reserve -- Ignore unavailable to you. Want to Upgrade?

To: Cush who wrote (164)	8/12/2002 2:24:28 PM
From: JBTFD	Read Replies (1) \| Respond to of 1379

I just finished an interesting book "The Power of Gold" by Peter Bernstein. It gives a bird's eye view of monetary policy going back to Roman times and before. One interesting point was that it seems that currency debasement is a given. Even in old times when there were gold coins people would file off some of the gold from the edges and still use the coin again at face value, and then still have the value of the gold shaved off. Then after some time the government would issue new coins of the same face value but with half the gold content.