Re: RE: RE: RE: RE: RE: Re: RE: Re: Re: gas

[Doug Henwood <dhenwood@xxxxxxxxx>]

David Shemano wrote:

> Mark Jones and Yoshie Furuhashi ask why Nixon severed the link to gold in
> 1971.  See the attached link entitled "Why Nixon Left Gold:"
> http://www.polyconomics.com/searchbase/01-08-99.html.  I make no claim to
> being an expert in the specifics.  I am certainly not going to psychoanalyze
> Richard Nixon.

How about Jude Wanniski? He'd almost be as much fun.

Jude's now complaining that the Fed has imposed a monetary deflation
on the world, though the money supply is growing faster than the 2%
growth a gold standard would allow. So how'd we go from an
inflationary fiat currency regime in the 1970s to a deflationary one
in the 2000s?

Doug