mishu
2008-02-14 09:57:09
The foundational problem is fiat currency and economies based on the “stimulus” of more such paper currency to whip the flagging paper economy into yet higher levels of addiction. Whenever things lack “growth” Wall Street demands another infusion of invented money and off to the races we go again.
Yawn. When the Brits went on the gold standard in 1925, it triggered global deflation since because of the decline price of gold (huh? Gold’s value is not absolute?). Deflationary pressures caused British investors to sell off equities which triggered stock market crashes around the world and ultimately a global depression.
