Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: DallasMike
...most economists would argue that a specie-backed currency is neither necessary nor desirable.

Man Argentinians have learned the hard way the difference between fiat money and specie. Is that what it will take to make you change your mind?

Hank

10 posted on 02/06/2002 5:38:44 PM PST by Hank Kerchief
[ Post Reply | Private Reply | To 2 | View Replies ]


To: Hank Kerchief
Man Argentinians have learned the hard way the difference between fiat money and specie. Is that what it will take to make you change your mind?

See my post at 13.

It's generally agreed by economists that the gold standard was one of the things that kept countries like the United States and France bogged down in the Depression of the 1930s. Also, do you remember the run on its currency that Mexico -- a gold standard country -- had in 1995? If a gold standard is the panacea for all financial ills, then why did Mexico have such a tough time? And how would you explain the history of inflation and deflation in this country before we went off the gold standard in 1971?

18 posted on 02/06/2002 6:01:38 PM PST by DallasMike
[ Post Reply | Private Reply | To 10 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson