Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/18/84; site unmvax.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!mhuxb!mhuxn!mhuxm!mhuxj!houxm!whuxlm!akgua!sdcsvax!sdcrdcf!hplabs!hao!seismo!cmcl2!lanl!unmvax!cliff From: cliff@unmvax.UUCP Newsgroups: net.politics.theory Subject: Re: The gold standard. Message-ID: <650@unmvax.UUCP> Date: Fri, 8-Feb-85 01:00:49 EST Article-I.D.: unmvax.650 Posted: Fri Feb 8 01:00:49 1985 Date-Received: Wed, 13-Feb-85 02:15:55 EST References: <613@ukma.UUCP> <368@harvard.ARPA> Organization: Univ. of New Mexico, Albuquerque Lines: 21 > If the gold standard was working so well, why did we give it up? > (This is a genuine request for information.) > > Rich > -- > > "If I am conceited, it is the conceit of an amazing man > who has never found any surpassing himself." > > Al-Mutanabbi The gold standard is not as tolerant of the Fed tampering with the money supply as the fed wanted would have liked. It is easy to dupe the citizens into a false sense of security with fiscal tricks. This sort of thing is encouraged by our political system, because it allows the politicians to look good while in office whilst passing off serious problems to the next guy. Take a look at the national debt for an example of the sort of fiscal buck passing that goes on... --Cliff