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<p>[QUOTE=&quot;mrbrklyn, post: 85607, member: 4381&quot;]&lt;&lt;Prior to World War I, trade flourished substituting self-liquidating bills of exchange for fiat currency, cleared internationally through London. This system, which was dismantled after the war, worked so well that the volume of international trade from the years just prior to World War I was not exceeded again until the 1990s. Amazing but true. You can look it up.&gt;&gt;</p><p><br /></p><p>Actually, this is just not true.&nbsp; None of the countries involved had enough silver or gold to exchange all their currency.&nbsp; The whole concept of hard currency, then as now, was a fraud.&nbsp; You can look it up.</p><p><br /></p><p>Taking the paper off the gold standard simply made legal what was for the most part already the case and ended the pretense of pretending to have a hard currency.</p><p><br /></p><p>Of course, today we use plastic, and very little actual &quot;money&quot; is exhanging hands compared to the amounts of money that is in circulation.</p><p><br /></p><p>Ruben[/QUOTE]</p><p><br /></p>

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