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To: Toddsterpatriot

"Inflation did occur under the gold standard"

That's the econ 101 view, but the reality is different. It's OK to have different opinions but it's not OK to be wrong in the facts used to make up those opinions. The "price" of gold was ~ $20 for a looong time, roughly 150 years. Personally I don't care one iota whether we are on a "managed money" standard or whatever, only that there is a standard for the unit of account. Gold held that standard for several thousand years since it was A. relatively rare, and B. not easily counterfeitable.


80 posted on 12/07/2005 5:59:30 PM PST by Freedom4US
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To: Freedom4US
That's the econ 101 view, but the reality is different.

Are you saying inflation did not occur under the gold standard. Please explain further.

The "price" of gold was ~ $20 for a looong time, roughly 150 years.

And that meant no inflation? How about deflation?

81 posted on 12/07/2005 6:01:44 PM PST by Toddsterpatriot (The Federal Reserve did not kill JFK. Greenspan was not on the grassy knoll.)
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