...

 JS> As I explain in part one of my 2007 series "Saddam
 JS> Hussein's Execution And The Euro Dollar War", following the
 JS> 1930 Great Depression, with so much money in circulation,
 JS> the U.S. Government couldn't possibly exchange it all for
 JS> actual gold reserves, because there simply wasn't enough
 JS> gold to cover it all. As a result, in 1932, U.S. President
 JS> Roosevelt removed the dollar from the gold standard.

 You just made the case against the Gold Standard. In a major
 downturn, the dollar can become worth so much more the gold can
 be bought out. Since such downturns have always been temporary,
 if they aren't the country falls apart, the gold reserves are
 wiped out leaving the country with no basis for the curency.



BOB KLAHN bob.klahn{at}sev.org   http://home.toltbbs.com/bobklahn

... 1.28*10E12 Furlongs/Fortnight..It's not just a good idea, it's the law.
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