Thus said "Daniel C." on Thu, 04 Dec 2008 14:59:40 EST: > It also doesn't solve the problem of inflation* because a gold-backed > dollar (assumed to represent one "division" of gold) would still > become worth less and less as the standard division of gold became > smaller and smaller.
That's actually backwards. As more and more goods entered the economy, gold would gain more and more purchasing power (i.e. smaller units of it would be able to purchase more goods). Andy -- [-----------[system uptime]--------------------------------------------] 10:27pm up 4:27, 2 users, load average: 1.11, 1.14, 1.12 /* PLUG: http://plug.org, #utah on irc.freenode.net Unsubscribe: http://plug.org/mailman/options/plug Don't fear the penguin. */
