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Friday, May 4, 2012

Throwback-ish Money

"A return to the gold standard, or a gold and silver standard is one of those perennial ideas that may sound throwback-ish, until you remember that we've only been ticking along with a fiat currency system for about a century, and only forty years with the complete separation from gold.  It's also something of a puzzler that fiat currencies are the way of the world, yet central banks themselves hoard so much gold.

"Still, even distinguished economists who are gravely concerned about the dollar and the global economy's dependence on it sy that a return to the gold standard is a bad idea...  You can't easily feed the beast of the money supply is there's a finite amount of money."

The End of Money by David Wolman

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