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<p>[QUOTE=&quot;InfleXion, post: 1410073, member: 29012&quot;]This was also the undoing of the bi-metal standard that began when the gold and silver ratio was fixed in 1791. Whichever metal was more valuable on the open market vs. the fixed ratio was hoarded, and disappeared from circulation thus resulting in the demonetization of silver. Had the GSR been allowed to fluctuate with free market forces we might still have a bi-metal standard today, because had silver still been part of the monetary standard when gold was replaced with FRNs then nobody would have wanted the paper, and it isn&#039;t possible to replace a bi-metal standard with a single replacement. So for the fiat experiment to begin silver had to be out of the picture.[/QUOTE]</p><p><br /></p>

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