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To: Marxbites
Free markets determine gold's price

uh...well, that's debatable. And, certainly, if it were true under the gold/dollar peg, then "free markets" -- defacto -- determined the dollar's price. But that wasn't possible, because gold's price was fixed by fiat, which was when money was truly "fiat." Now, money value is determined by the market.

The gold standard was an artifice; it was training wheels. The training wheels have to come off as the child grows. Hopefully, the child grows with enough character to handle a real bicycle.

13 posted on 05/17/2006 4:58:06 AM PDT by the invisib1e hand (It takes courage to live. Hence, the "culture of death...")
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To: the invisib1e hand

Dream on.


14 posted on 05/17/2006 6:59:21 AM PDT by Marxbites (Freedom is the negation of Govt to the maximum extent possible. Today, Govt is the economy's virus.)
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