Message:

<p>[QUOTE=&quot;Cloudsweeper99, post: 85630, member: 3011&quot;]Mrbrklyn,</p><p><br /></p><p>Your reply was expected.&nbsp; This is what most people think who believe that a hard money system requires gold and silver equal to the amount of currency in circulation, or else a run on the bank is inevitable.&nbsp; That is the ultra-extreme fringe goldbug view of the world where banks are viewed as precious metals warehouses, but doesn&#039;t reflect how the world banking system operated prior to World War I.&nbsp; It&#039;s obvious that you haven&#039;t looked into this [and won&#039;t I&#039;m sure], didn&#039;t examine trade statistics, and don&#039;t understand banking as practiced prior to the creation of the Federal Reserve, but it wasn&#039;t my intention to convince you.&nbsp; I only wanted to warn any other readers that this might be the conventional view of economic history, but is wrong.&nbsp; It is very convenient for the central banks of the world to permit this misinformation to continue to circulate, since it&#039;s convenient to have people believe that the way things are is the only way they could possibly be.&nbsp; It just doesn&#039;t happen to be true.&nbsp; Amazingly, what you consider impossible provided the basis for commerce for over 400 years.</p><p><br /></p><p>Your response reminds me of an old economics joke.&nbsp; After one economist demonstrates to another that something contrary to current economic thinking is apparently true, the second replies, &quot;That might work in practice, but it will never work in theory.&quot;</p><p><br /></p><p>Anyway, that&#039;s the end of this discussion for me.&nbsp; I know better than to try to make people see the difference between their opinions and facts.&nbsp; Everyone is free to believe what they want with whatever degree of confidence makes them happy.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in