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View Full Version : If someone suggests a Gold standard sounds odd




mesler
05-24-2007, 08:47 PM
Link them to an essay written by Alan Greenspan before he worked for the Fed:

http://www.usagold.com/gildedopinion/greenspan.html

Also, if someone says that was written many years ago, consider this exchange between he and Paul on the day of his last meeting with Congress:

http://www.lewrockwell.com/paul/paul267.html

Greenspan: "So that the question is: Would there be any advantage, at this particular stage, in going back to the gold standard?

And the answer is: I don’t think so, because we’re acting as though we were there."

Lesgov
05-24-2007, 09:41 PM
When I'm asked about it, I use the example of a silver dollar. In 1964 the bills still said silver certificate on them. You could take a dollar bill to the bank and get a silver dollar.
A gallon of gas was 25 cents. You could either pay with a silver dollar or a paper dollar and get four gallons of gas.

Today you can only get 1/3 of a gallon with a dollar bill, but you can still get four gallons of gas with a silver dollar. A silver dollar is worth about 12 dollars today.

This shows how worthless are dollars are today.