| gabriel rosenkoetter on Thu, 25 Apr 2002 21:16:19 -0400 |
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On Thu, Apr 25, 2002 at 07:51:30PM -0400, Paul wrote: > Come to think of it, money used to be backed by something real, like > gold. Now its value is just assigned. How does that work? Ah, the gold standard. Quick, convert all your cash at egold.com! The gold standard went away because it was *way* too difficult to do business efficiently when the price of gold fluctuated drastically on a regular basis. It caused tides of inflation and deflation that moved much faster than anything we're used to. And there's always the "six men in a smoky room in London" theory. ;^> -- gabriel rosenkoetter gr@eclipsed.net Attachment:
pgpKtkCKcLD33.pgp
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