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

To: expat_panama

The government can have a legitimate function in a gold money system and that is to buy and sell gold at a given price that never changes and to run its own operations such that the government doesn’t get behind the 8-ball with gold i.e. doesn’t run a debt.


13 posted on 08/20/2013 4:38:28 AM PDT by arthurus (Read Hazlitt's Economics In One Lesson ONLINE http://steshaw.org/econohttp://www.fee.org/library/det)
[ Post Reply | Private Reply | To 12 | View Replies ]


To: arthurus

—and forget silver; that can be done. Of course, the price of silver will be even more erratic so we’d have to forget about using silver in coins. The big problem though is that the price of copper, oil, food, everything else would also swing wildly. That was the problem with the gold peg, crazy prices.


14 posted on 08/20/2013 5:53:24 AM PDT by expat_panama
[ Post Reply | Private Reply | To 13 | 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