Daniel30 Wrote:
Dec 24, 2012 7:34 PM
Are you saying England has an economy that works? Are you saying you want the same Congress to control the printing press that can't balance a budget? Here is what Congress can do constitutionally. It can declare that a dollar is a certain fraction of gold or silver and then tell banks, including the central bank that they must have enough gold and silver on hand to cover the requirements of people wishing to exchange their paper currencies for gold or silver. But we don't need a Zimbabwe or Weimar style government in control of the presses sort of money. Banks devalue the currency but do not create hyperinflation. Politicians readily do so, that is who always created hyperinflation.