Dear Jim Davidson: I'm thinking that you can clear my confusion of this
principle -
You wrote:
<< The tie to the dollar of $35 per ounce troy of gold was gone.
Without an artificial price fix, there was no way to artificially
undervalue gold. >>
In creating U.S. dollars a value in gold was de
Dear James,
> according to Gresham's law, bad money (debased national
> currencies) drove out good money (gold, whether in coin
> or certificate form).
That's not what Gresham's law actually says.
According to Murray Rothbard in "What Has Government Done
to Our Money" available, ironically, f
