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To: Paul C. Jesup
Why does the house of cards necessarily have to collapse?

I think our economy was more prone to bipolarity, meaning it
s depressions were worse, when our currency was specie-backed. There may or may not be a connection between the cycles and the currency valuation method, but I'm not convinced that the gold in Fort Knox should be anything other than an emergency measure.

However, if I were POTUS for a month, or so, I'd want to be fully briefed and prepared to reintroduce a currency based on that gold in the event of one of the proverbial 'Doomsday' scenarios occurring.
68 posted on 02/01/2004 11:18:58 AM PST by .cnI redruM (Vae victis! - [woe to the vanquished].)
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To: .cnI redruM
Why does the house of cards necessarily have to collapse

Even if the revolt is supressed, by nationalizing even a small factions of property, you cause a default on the debt owed to banks on that land (through morgages and other types of debt) causing those banks to default, causing those banks debts to be defaulted and so on in a domino effect which causes the ecomony to crash in on itself, thus no money for taxes, thus the government collapses in on itself.

71 posted on 02/01/2004 11:24:46 AM PST by Paul C. Jesup (Voting for a lesser evil is still an evil act and therefore evil...)
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