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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Solon who wrote (48953)	6/18/2006 5:33:54 PM
From: Lazarus_Long	Read Replies (1) \| Respond to of 90947

Alan never ran for nor was he elected Dictator of the United States. Does that matter?

To: Solon who wrote (48953)	6/21/2006 11:14:16 AM
From: TimF	Read Replies (1) \| Respond to of 90947

Yes a gold standard or something similar reduces the possibility of inflation. But 1 - It doesn't eliminate it. See Spain after the conquest of its colonies in the western hemisphere, or several other situations where the available supply of gold has greatly increased. 2 - Lack of backing by gold or other commodity doesn't guarantee inflation. 3 - Even if a gold standard eliminated the threat of inflation, and the lack of such a standard guaranteed it, it wouldn't make paper money that was widely accepted, something other than money. An argument can be made for a gold standard or some other similar standard, but making that argument is not an argument that US currency is not money.