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[QUOTE]Originally posted by The Bigfoot: [QB] Not happy per say, cognizant that every action has unintended consequences. The whole sound money statement is a new way of talking about an old device, the gold standard. Oh, I know some people talk about using a different commodity to back the money supply by but that is like talking about clean coal technology- sounds nice but doesn't exist (and even if it did would be too expensive to be profitable). Even if we found a way around the fact that our economy dwarfs the world gold supply it will not stop the speculation in the financial markets of America which is what causes bubbles. It may stop the government from over-inflating our money but it won't stop us from doing it to ourselves. Then there is the cost of living. Just because the dollar is fixed that doesn't mean that prices will be. Cost of living could and would during times of economic distress erode far faster under a backed dollar than an unfixed dollar. Its throwing the baby out with the bathwater when you find the government dirtied it a little. What can I tell you? Life is dirty, and those that play in the dirt are attracted to power and money. Changing the rules will only stop them for as long as it takes em to figure out a new game and the rest of us will be left with new rules that aren't likely to benefit us. [/QB][/QUOTE]
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