To: justshutupandtakeit
No, what it demonstrates conclusively is the variability of the value of gold. It has never been consistent except when guaranteed by a government.I've never denied inflation or deflation. I don't consider a fraction of a percent rate in either direction bad at all though. Especially when our fiat money sometimes hits 12%.
302 posted on
07/25/2002 1:30:40 PM PDT by
#3Fan
To: #3Fan
In the last decades of the 1800s the U.S. money supply shrank by at least a third and deflation was a gigantic problem leading to the creation of several political parties trying to deal with its crushing impact on the farmers and the west. It was not a percent here or there.
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