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| foreign assets...in gold.. all we do is say that the existing money in circulation is tied to the Gold reserves we currently own... If we add to our Gold reserves, we can print more currency. |
that was the reason why we left the gold standard. there wasn't enough gold for us to tie to currency in circulation (what i meant when i said assets). ever since nixon floated our currency, the amount of foreign-held assets has dramatically increased. i don't know if there's enough gold in the world for us to peg the dollar against.
also, entire financial systems have been borne our of the floating foreign-exchange. the creation of the forex is a perfect example. the global economy has evolved to a state where it expects the valuation of currencies to be part of the free market, and it has developed substantial infrasctructure to support that system. it simply isn't nearly as easy as badnarik is suggesting - and when he keeps harping on the constitution rather than voicing knowledge about economics, i look at him as disingenuous. it's also why i keep harping about balancing the budget and paying down the debt. if that miracle could actually happen, then
maybe the idea of returning to the gold standard could work. personally, i prefer the idea of the tobin tax as a means to limit currency volatility.
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| Are there some other things that you are looking at Bishop? |
whatcha mean?