[lbo-talk] Goldbugs

[John Thornton]

Sandy Harris wrote:
> John Thornton <jthorn65 at sbcglobal.net> wrote:
>
>   
>> Sandy Harris wrote:
>>     
>
>   
>>> It prevents governments from just printing and spending money,
>>> the real cause of inflation. The US dollar was originally about
>>> an ounce of silver. Last I looked, silver was over $10/ounce.
>>>       
>> The "real" cause of inflation?
>>     
>
> It is quite obviously one cause. If governments can just print what
> they want to spend, then the currency is devalued. That causes
> prices to rise.
>
> Now a real goldbug would argue that it is the only cause and that
> "fiat money" should be banned.
>
>   
>> It prevents Govts. from spending anything?
>>     
>
> I didn't say that.

I meant a gold standard doesn't prevent the Govt. from spending at much 
as it likes.

John Thornton