Re: [A-List] the truth about gold

["Anne Williamson" <annewilliamson@xxxxxxx>]

Robert:

You seem to want to argue all of economic history with
gold as the villain.  Do you deny that gold has been the
preferred instrument of exchange for millenia?  Do you
deny that all fiat currencies have either failed or are in
the process of failing?  When given a choice
(i.e., when private ownership of gold has been allowed
unimpeded by legal tender laws), mankind has always
chosen gold.  That's why there are legal tender laws!

The classical gold standard prevailed de facto and finally
de jure from the late 1700s through the early 20th century,
and this is the first period of time in which it is possible to
study gold as part of an international system.  It worked
well, which can not be said of our current, vast monetary
experiment of the last 30 years, i.e., a world of floating rates
that is unravelling before our very eyes.

Are you sure it isn't "money" and economic activity in
general to which you object?

Anne
----- Original Message -----
From: ewc <ewc@xxxxxxxxxxxxx>
To: <a-list@xxxxxxxxxxxxxxxxxxx>
Cc: <hans@xxxxxxxxxxxx>
Sent: Sunday, June 02, 2002 7:06 AM
Subject: [A-List] the truth about gold


> Pasted to todays a-list I find
>
> Emeritus Professor of Economics Sennholz
>
> eulogises about
>
> "the pivotal role that gold played
> throughout the ages"
>
> I note that he does so with the assistance of the Mises Institute
> whose aims state:
>
> "It is the mission of the Mises Institute to ................encourage
> a revival of critical historical research"
>
> In line with this philosophy, I would be grateful if he could tell me
> what ages he is talking about? On what planet?  (Gold has only rarely
> been the monetary standard on Earth for the last 2,500 years).
>
> Copies to a-list and Prof Sennholtz direct
>
> Robert
>
>
>
>
>