To: MNJohnnie
And just where is Ronnie here going to find all that gold?
You're economically illiterate, aren't you?
The reason that gold is ideal for use as a currency, the reason that it has been chosen as currency for millenia in so many societies, it precisely BECAUSE it is so scarce. It holds its value better than any other commodity or thing because it cannot be inflated due to its relative scarcity.
However much gold there is, by definition it is "enough."
107 posted on
08/23/2007 12:37:09 PM PDT by
Iwo Jima
("Close the border. Then we'll talk.")
To: Iwo Jima
However much gold there is, by definition it is "enough." So we could back an $8 trillion money supply with an ounce of gold? So easy a caveman could do it.
114 posted on
08/23/2007 1:48:16 PM PDT by
Toddsterpatriot
(Ignorance of the laws of economics is no excuse.)
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