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#81
08-04-2006, 03:59 PM
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Re: Purpose of Monetary Inflation
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I checked multiple sources...we ended gold backed money in 1933. Might want to read up on it... [/ QUOTE ] I dont believe much of the money was backed by gold at all. What do you make of the money supply inflating over 60% over the years 1921-1929, entirely a credit expansion (zero currency expansion)? 
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#82
08-04-2006, 04:39 PM
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Re: Purpose of Monetary Inflation
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and i assume you have a sound system? O wait you dont You preach a gold backed system (or you dont...who knows the way you talk) that has failed as often as any other system. [/ QUOTE ] I "preach" for nothing more than an elimination of coercion. A free market in money. [ QUOTE ] The reality is this...there has to be trade offs...Fiat isnt perfect...nobody ever said it was...but the gold standard was never close to perfect either. [/ QUOTE ] I guess if you consider the fact that governments can't just crank up the printing press and inflate away a "defect" then yes, a 100% gold standard is not "perfect." Can you actually come up with any other defects? [ QUOTE ] Quite a efw of the luxaries we get to enjoy today will have to be done away with and well taxes certainly will need to be jumped greatly if we head back to it...so there is always a trade off. [/ QUOTE ] What luxuries? And note you're completely begging the question of the need to "jump" taxes.
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