"Ed Huntress" wrote:

Don't start doing a Gunner on us, Wes. g From then until 1971, central
banks of all countries member of the Breton Woods Agreement were empowered
to demand gold of other countries in exchange for their currency. France
took a run at ours, and Nixon responded by taking us off the gold standard
so the French couldn't bleed our reserves.


I was trying to find a link to confirm what I remembered. I seems we told other nations
we would pay them at 60% back during FDR's time.

From what I can tell, the gold standard limits growth. Of course if growth is fictitios,
should it not be limited?

I don't have a jones for gold. I do believe that rational instruments of exchange should
be used. I wonder what our fico score would be if rated as a person vs a nation?

Wes
--
"Additionally as a security officer, I carry a gun to protect
government officials but my life isn't worth protecting at home
in their eyes." Dick Anthony Heller