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To: richalessi
The problem historically with using gold as money is that it was combined with fractional reserve banking. This meant that banks printed up more receipts for gold than they had in the vault

Are you saying the gold standard didn't prevent inflation or deflation? LOL!

It doesn’t mean gold is changing value.

Because gold never changes in value?

71 posted on 07/19/2007 10:59:48 AM PDT by Toddsterpatriot (Why are protectionists, FairTaxers and goldbugs so bad at math?)
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To: Toddsterpatriot

Both sentences were pretty clear. I’m not sure from your response if you agree or disagree. I would recommend you read desoto’s book.


72 posted on 07/19/2007 11:01:03 AM PDT by richalessi
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