From: | The Deb Decker <RJR96326@****.UTULSA.EDU> |
---|---|
Subject: | Gold Standard |
Date: | Fri, 10 Sep 1993 17:45:20 -0500 |
*I* like it. ..
Rat, I once told that in the '70s we went off the Gold Standard, and the
consequence (as explaind to me) was that while there's gold, there's not
enough to honor every single dollar we have. That is, we could have
25 in circulation but only 15 (at average prices) in the vaults. The
value is then driven by the economy-all that money chabging hands, like
in the example of 1 trill becoming 6 trill.
J Roberson
The best way to figure out how something works is to figure out how it doesn't.