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

To: Hawkmoon who wrote (3637)	2/22/1999 1:00:00 AM
From: paul ross	Read Replies (2) \| Respond to of 81840

Article I, Section 10. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility. How is this possible with today's FRN? ****************************************** I think the best summation to the "gold bug" argument is provided by Alan Greenspan in his Gold and Economic Freedom essay. Link provided by Mike in post 3616 :http://www.fame.org/fedwatch/fw-003-frame.htm >>>In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.<<<< ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Also, in regards to another post of yours about the gold lease rates, it seems that just before any large entity (CB) has sold a quantity of gold in the past, it has first removed this gold off the leasing market. With less gold temporarily available for lease, lease rates shot upwards for a time. This is how some analysts were able to detect the gold sales of the Australian and Brazilian CBs before they were announced publicly.