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To: arthurus
Gold and silver would and should operate separately. Silver is necessary in the mix...

Like how the federal government once made a one-oz gold coin worth 20 one-oz silver dollars?  It was madness.  Sure, mindless bureaucrats can declare by fiat that the ratio has to be one to 20, but the open free market can (and has) put it at one to a hundred.  Metals are raw commodities with wildly fluctuating market values and what we need is money that keeps prices stable.

12 posted on 08/20/2013 3:25:26 AM PDT by expat_panama
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To: expat_panama

The government can have a legitimate function in a gold money system and that is to buy and sell gold at a given price that never changes and to run its own operations such that the government doesn’t get behind the 8-ball with gold i.e. doesn’t run a debt.


13 posted on 08/20/2013 4:38:28 AM PDT by arthurus (Read Hazlitt's Economics In One Lesson ONLINE http://steshaw.org/econohttp://www.fee.org/library/det)
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