To: Dead Corpse
How do you create more gold/silver/production capacity out of thin air?The gold standard was based on holdings of gold. Hence, manipulation of how much gold you hold changes the value of your currency against others.
Besides, we have a de-facto commodity based currency.....it is based on ALL THE COMMODITIES the US produces.
172 posted on
11/15/2007 8:45:38 AM PST by
Erik Latranyi
(The Democratic Party will not exist in a few years....we are watching history unfold before us.)
To: Erik Latranyi
It's based on the speculative value of what we produce. Ie; debt.
If you base a currency off of more than one commodity, it ties it to things of real value and actual production. This isn't a bad thing.
For those hording, wouldn't it just make what was still in circulation that much more valuable? How is that "bad"?
181 posted on
11/15/2007 8:50:52 AM PST by
Dead Corpse
(What would a free man do?)
To: Erik Latranyi
it is based on ALL THE COMMODITIES the US produces.Good thing our manufacturing isn't going off shore then...
208 posted on
11/15/2007 9:05:20 AM PST by
null and void
(No more Bushes/No more Clintons)
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