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<p>[QUOTE=&quot;Cloudsweeper99, post: 428063, member: 3011&quot;]I would counter that Gresham&#039;s law is only a natural response by people to government fraud throughout history.&nbsp; Whenever a government debases the currency, which is practically all of the time, people will save the most valuable coin and spend the less valuable.&nbsp; But if a coin and currency retained their same value/weight throughout time, no coins would be removed from circulation.&nbsp; When a dollar was defined as a weight of silver, the silver dollar could never be worth more or less than a dollar of silver.&nbsp; When there was a shift first to the gold standard, then to the paper standard, this link was broken.&nbsp; Now, we&#039;ve reached the point where many people believe the ideal coin should have no value other than it&#039;s legal fiat value.&nbsp; Quite a change.</p><p><br /></p><p>Edit: And it is equally true that having a fiat currency hasn&#039;t worked, not even once in the last 3,000 years or so - but people today are about to relearn the lesson.[/QUOTE]</p><p><br /></p>

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