On Thu, October 29, 1998 at 08:56:20 (-0500) Trevor Evans writes: >As I recall De Cecco's point (also made in various careful historical >studies of the gold standard by Arthur Bloomfield) was that the gold >standard depended on constant discretionary intervention by Central Banks >to make it work. The idea that there was ever a self-regulating exchange >rate system is therefore a myth. Yes, you're absolutely correct, this is exactly what De Cecco says. That's what I was referring to with my "deeper amiss" comment. Bill
