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To: robnhood who wrote (115569)	5/24/2008 10:32:21 AM
From: E. Charters	Respond to of 313698

The solution is to change this: Into this: So it buys more. Or Washington could make the 2 into a 3 and back it with fungible metal. You could do it with crayons, or the guvmint could print on the back "Redeemable for 1/5 of an ounce of pure silver." A common fallacy is to assume that money created has to match silver on hand. All that has to be on hand is 30% of the value of the banknotes printed. That is a very small fraction of the economy amounting to perhaps 1 trillion dollars. Total silver on hand would be 300 billion or 20 billion ounces. This is an old article but it illustrates the foreign reserve pressure on the dollar. blanchardonline.com EC<:-} EC<:-}