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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Jamey who wrote (18366)	5/24/2003 9:24:24 AM
From: sea_urchin	Respond to of 81961

James > how do you know that Bush's long term goal is to put the U.S. back on the Gold Standard? It's simply not possible because, in the first instance, there isn't enough gold and, secondly, because there isn't enough future gold supply to match the necessary increase in money supply. Yes, I know they can make the POG $10,000 per oz or whatever, but that's fiction. Anyway, if it happens, South Africans will all be multimillionaires so I won't complain. Furthermore, a Gold Standard isn't necessary. This idea was only a device to satisfy the minds of those who didn't understand what paper money really is but, increasingly with time, it became impossible to keep up with the bullsh1t because there was too much money and not enough gold. > When we were, I understand there was no such thing as unemployment The reason was that money supply was kept down and so booms and busts didn't happen as frequently as they can happen now. There was nothing magical about gold that prevented unemployment. All that the gold prevented was the banks printing as much paper money as they wanted to.