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To: The Wharf who wrote (107296)	2/29/2008 12:43:46 PM
From: Hawkmoon	Read Replies (3) \| Respond to of 306849

>> I will ask why this to you is socialistic? WR.. I would think you'd see the obvious socialistic aspect of a gold standard.. Gold is a commodity.. It's used in all kinds of electronic applications, as well as jewelry. But when the government can come in and dictate to the private market that the price of gold will be fixed at $20/ounce (as it was for almost a hundred years), that's government interference in a private market. "The United States, though formally on a bimetallic (gold and silver) standard, switched to gold de facto in 1834 and de jure in 1900. In 1834 the United States fixed the price of gold at $20.67 per ounce, where it remained until 1933." econlib.org Furthermore, the government can confiscate gold, as they did in 1933: the-privateer.com Thus, the government can make you sell them your gold, or at least require you convert it into some commodity application like jewelry or industrial applications. Hawk

To: The Wharf who wrote (107296)	2/29/2008 12:47:53 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 306849

>> I will ask why this to you is socialistic? WR.. I would think you'd see the obvious socialistic aspect of a gold standard.. Gold is a commodity.. It's used in all kinds of electronic applications, as well as jewelry. But when the government can come in and dictate to the private market that the price of gold will be fixed at $20/ounce (as it was for almost a hundred years), that's government interference in a private market. "The United States, though formally on a bimetallic (gold and silver) standard, switched to gold de facto in 1834 and de jure in 1900. In 1834 the United States fixed the price of gold at $20.67 per ounce, where it remained until 1933." econlib.org Furthermore, the government can confiscate gold, as they did in 1933: the-privateer.com Thus, the government can make you sell them your gold, or at least require you convert it into some commodity application like jewelry or industrial applications. US dollar is starting to look like a stock market stock and that is not what it is. US dollar is the trade method the unit of labor value of US people. When the US went off the gold standard and went to the floating exchange rate, the Special Drawing Right (SDR) became the defacto "gold standard". Since the SDR is a weighted average of the the leading global currencies, it sets the "foundation" for international determination of a currency's value. Thus, floating exchange rate is exactly what it implies that it is.. a market for determining the value of the currency. And long term changes in the value of a particular currency will eventually be reflected in the SDR equation. Hawk