conservative_librarian Wrote:
Aug 30, 2012 4:24 PM
I dont think there is that much difference between us in philosphy. We are both interested in free market economies and stable currency. The only disagreement is in what the underpinning for that stability should be. You, and others that propose a return to the gold standard rightly see the limited availability of gold as one way of achieving this aim... I think there are preferable ways to achieve stability. I am not 'afraid of deflation'... as I explain in a separate comment, the problem isnt the lowering of prices, it is the reason for the lowering. If production costs drop because a new efficiency is developed or power generation expands (reducing cost), that seems like a good reason. Just because we find a new rock, not so sure.