At 12:52 PM -0500 1/7/03, George Matyjewicz wrote: ... >Interesting dialogue on this topic. I agree that the gold standard would >never happen. When I originally posted the question, I didn't mean a gold >standard in the US. Rather a global gold standard. Which makes it more >impossible.
!???!? Uh...The "impossible" started happening in 1996, and once the smell of black ink hit the water a number of OTHER impossible- companies quickly offered a similar thing. No, the global gold standard isn't (and probably won't-ever-be) UN-enforced, but the almost-universal desire for the yellow metal means that it _need not_ be enforced globally to exist & grow, as it has. I'm constantly amazed at how people LOVE to touch gold coins (I carry at least one around constantly). The "global gold standard" is e-gold, George, and if you call it 'impossible' in your book people like me will make fun of you, which you'll probably find annoying, so please don't! Anyplace with internet connectivity -- which these days is pretty-much everywhere -- has people who can and should learn about Better Money(tm)! The kind of "gold standard" that's no longer possible is the government-induced variety, but history shows that NO government EVER got that right in the past, so it's highly unlikely that anyone will believe them if they say they can get it right in the future. I sure won't, even if it's an entity I trust more than the United Nations (ie, just about any other entity)! Governments mess-up the currencies they control, invariably (hmm. Ray's law?). Businesses, unlike governments, can be held to contractual obligations without nasty issues like war, welfare systems, or "sovereign immunity" getting in the way of the courts doing their job and enforcing them. Ultimately, any real currency is simply a contract. >As Paul Volcker, Former Chairman Federal Reserve stated "A global economy >requires a global currency." So, if it's not gold, what will it be? Is a >global currency even possible? Is there too much government intervention? One needn't ask that question around here to know the answer you'll likely get! JMR --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
