Replies to post #124449 on Zeev's Turnips Patch-No Politics (ZEEV)

[Doesnt Add Up]

<that would prevent the world economic growth to no more than that value>

I'm not sure why the currencies would have to be pegged 1 to 1 to gold? I thought the idea of a gold standard was to have a way to measure exchange rates of world currencies and to have a finite way to determine and control the money supply, not to limit its creation.

Anyway the story about gold being only a commodity is a total joke. Ask the central banks how many loans have been made against gold in their vaults. And why did they use gold as collateral for the loans? Gold is most definitely a currency.


M