Message:

<p>[QUOTE=&quot;johnmilton, post: 14177643, member: 101855&quot;]The problem lies with the creation of too much money. It is not with the composition of the money. All the gold standard does is limit the amount of money that can be in circulation. That is not always a good thing. If there is not enough money in circulation, it can stifle economic activity. </p><p><br /></p><p>If you back 60 years ago, only about 1% of the money in circulation was made of silver. Perhaps 19% was made of paper. The rest was in the form of bank accounts. Some of those notes were backed by silver, and there was supposed to be gold backing the rest, but you could not redeem that money for gold. </p><p><br /></p><p>The point is the value of money is tied to good government policies and the ability of the economy to produce the goods people demand. The precious metal that backs a currency will not preserve its value.[/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