"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
World Bank President: "The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today."
Hey Glitter: Using gold as a guide to inflationary expectations is both useful and appropriate. Using gold for a commodity standard is a pernicious anachronism. You want the Midas touch then fine. Count me out.
hey doc, what say you about this?
ReplyDeleteWorld Bank President: "The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today."
Hey Glitter: Using gold as a guide to inflationary expectations is both useful and appropriate. Using gold for a commodity standard is a pernicious anachronism. You want the Midas touch then fine. Count me out.
ReplyDeleteI still think this is too complicated.
ReplyDelete