The percentage of backing does not change the relative growth rate, only the peg rate. The fact is that either you continuously increase the price of gold (inflation) to allow for its limited output growth relative to the growth needed in the world economy to raise the standard of living of the undeveloped countries, or if you keep the peg constant, you condemn masses of poor people to worse poverty and economic stagnation.
Does everyone gets sluggish response this afternoon from I-hub?
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