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

To: Broken_Clock who wrote (4542)	3/18/1999 10:03:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 81954

What's humourous to me PK is that I'm not a democrat, so to call it "my" great society or to assert that I believe in the welfare state that was created in the '60s is slightly presumptuous. Personally, I dont' believe God loves gold anymore than he loves Fiat money. He merely wishes us to give to "Caesar" what is Caesar's, and give to God what is God's. As we all recall, God was not especially favorable to the Jews melting down their gold trinkets and fashioning it into a golden calf to be worshipped. And all of this BS crap about gold standard, IMO, reeks of worship to a golden calf. I may have been addressing the conspiracy theorists with a few sarcastic theories of my own, but I do believe that a gold standard would enable the few to control the many far easier than the current system permits. It would place all nations under a standard that denied them their financial sovereignty and I believe that is what would lay this country low should it occur. Gold cares nothing of economic output or productivity statistics. All it cares about is the amount of it that is available to be used as reserve assets against loans outstanding. And IN EVERY BANKING SYSTEM, GOLD BACKED OR FIAT, RESERVES ARE GENERALLY FAR LESS THAN OUTSTANDING LOANS, thus rendering that bank vulnerable to a liquidity crisis should mass withdrawals by depositors occur. Under a gold standard you gain no more real fundamental liquidity, and you limit your monetary options to respond to economic crisis. There may be some who disagree with that opinion, but by golly they sure haven't yet been able to defeat the logic of it. Regards, Ron