[PLUG] OT, gold price stuff

[Jon Galt <jongalt@pinn.net>]

On Fri, 26 Apr 2002, Jeff Weisberg wrote:

> on a gold standard, the price of gold in terms of dollars is fixed.

Precisely, which is directly contradictory to the previous claim about
fluctuations in the price of gold.

> on a gold standard, the price of cheesy-poofs in terms of dollars
> is not fixed, and its price will fluctuate (possibly drastically)
> based on the gold supply. (ie. the discovery of a new gold mine will
> cause inflation (the price of cheesy-poofs goes up), the closing of
> a mine will cause deflation (the price of cheesy-poofs goes down)).

Interesting (and plausible sounding) theory.  Unfortunately (for your
position), this does not bear up under a study of history.  A gold
standard, in all the times throughout human history that one was
implemented, made money and the price of goods in relation to it more
stable, not less so.

I'm trying to keep this short because of how off topic it is.  If people
wish to continue discussing it, perhaps we should take it offlist.

Wayne
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both the Unix and Microsoft worlds?

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wayne@hirewayne.com
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