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April 15, 2013 at 12:56 pm
#17765
Member
And a follow up statement by another kenysian….
“Obviously gold is subject to speculation, just like any other commodity – a big hole in the theory of those supporting GS. But I think the main reason the gold standard is such a fail is because it automatically hamstrings a nation’s economy. You are placing a cap on how much money can be in your system due to the scarcity, which limits the rate of growth of the economy.”