[Diggity]

I agree however we had similar abuses with the unregulated money pools in the 1920’s when we were on a gold standard.

John

[count-your-change]

Of course being on the gold standard would not prevent all problems, witness what took around the time of the civil war. A sound money would prevent the great gushes of money, or should I say paper tokens, we have now with the accompanying inflation. As inflation works it way through the economy it hurts one group while helping another. So one group or another can exert influence upon policy makers to benefit themselves. That is exactly what is occurring right now. As well as host of other things.
Prices are information the market is giving us and if prices are tinkered with our information is distorted. How much is your house worth? Who knows? Yesterday it was appraised at $300,000 but tomorrow I may not be able to sell it for half. Under a money system that would not happen as buyer and/or lender would have to part with something of intrinsic value and not just chits subject to endless creation by the fed.