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To: Ironyman who wrote (29874)	3/12/1999 10:59:00 PM
From: lorne	Respond to of 116762

Ecuador sets austerity measures to fight crisis yahoo.co.uk

To: Ironyman who wrote (29874)	3/12/1999 11:07:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116762

Ron,,, Fourteen years of production won't be enough to save our dollar if it becomes ' Out of Style '. .......Just another fashion statement. 14 years production wouldn't last very long either were there a current gold standard and a sudden crisis of confidence erupted in a bank run. So the question remains... can either style of system sustain a crisis of confidence? Isn't it all about maintaining depositor confidence and haven't banks suffered runs upon their deposits under a gold standards as well?? A Gold standard buys you nothing when people don't trust their political and financial leadership. Unless the people have access to the gold as a means of transacting daily business, a stable financial system will always be held hostage to a frightened population. Whether Fiat or gold-backed... those dollars are still just pieces of paper until they are exchanged for gold. As Mark Bartlett so eloquently put it earlier: I think even the biggest moron on the block realizes this .... but the problem has been, and will continue to be, those periods when that confidence is so eroded, people look for something real to protect their $$ So if the powers that be choose not to permit you the opportunity to exchange your paper for gold, you're SOL just like us folks holding Fiat money. Regards, Ron