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[QUOTE]Originally posted by glassman: [QB] [b]Even if we found a way around the fact that our economy dwarfs the world gold supply[/b] you are looking at it upside down. the value of gold would fluctuate. gold is a good standard cuz we don't actaully *consume* much of it, and what is "used" is recoverable. Silver? we use alot of it and consume a good bit too, but once again we can recover most of it. if yo go back to the history books? you will find that we created the Federal reserve to stop all these "bubbles" event ho we didn't call them bubbles back then... we started using that term witht he internet as far as i know... the underlying issue is really not gold or how much there is or isn't. the underlying issue is that Banks loan themselves money based on thin air. The collpase we just went thru was in large part caused by a new accoutning law requiring that banks *mark* their listed assets to their liquid market value, and stop assigning "best case scenario" values to them (fiction in other words) when they put them up as collateral for loans that they more or less give themselves, it's more complicated than that, but in the end? they really are kiting checks amongst each other until somebody fails to kite the next check and then the bubble bursts...... do you have a margin trading account? do you know who is actually lending you the money you use in margin? do yo know where they get the moeny to loan you? it's all thin air.... margin levels are one ot he best indicators as to when a bubble will burst, and i was watching them closely when i decided we were about to collpase. i beleive that's why they term bubble was invented, because it is just air in the "liquidity" [/QB][/QUOTE]
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