http://www.polyconomics.com/

-- gg (awl@home.com), August 03, 2000

Answers

Standard Austrian Drivel with a "Cheney as a socialist" header for a start.

As an admirer of the work of Ludwig von Mises, I used his teachings on monetary deflation to see how the Federal Reserve policies of Alan Greenspan were inviting these swings in the dollar oil price. I saw before others did that the decline in the price of GOLD that began in November 1996 was the result of Fed errors in managing the floating "greenback" dollar -- and that unless the Fed took action to arrest the decline in the gold price, the price of oil would fall and so too would prices of other commodities that come from the earth. In other words, if our central bank had not made a series of inflationary, then deflationary, mistakes in managing the worlds most important unit of account -- the dollar -- the price of oil would have remained stable and so too would the prices of all other commodities. Notice I said "stable," not fixed. Only the gold price need be fixed to the dollar, providing one precise unit of measure around which all other prices can fluctuate in relatively narrow bands to account for real -- not monetary -- changes in supply and demand.

-- cpr (buytexas@swbell.net), August 03, 2000.

HINT: that paragraph is a QUOTE not MOI.

-- cpr (buytexas@swbell.net), August 03, 2000.

believe me, we can tell the difference creep.

the person who wrote that was sane, you're not.

-- clear as (night@and.day), August 03, 2000.

THIS IS SANE??

Only the gold price need be fixed to the dollar, providing one precise unit of measure around which all other prices can fluctuate in relatively narrow bands to account for real -- not monetary -- changes in supply and demand.

-- cpr (buytexas@swbell.net), August 03, 2000.