Fix at this price of gold or some other
Reader comment on: Rift on Right Over Reaganomics' Future
Submitted by wellbasically (United States), Mar 25, 2011 09:53
The question could be hashed out over what price of gold to fix the dollar at. Those who are willing to fix at $1400/ounce would have to explain how we're going to cope with gas at $8/gallon, for instance. While we wait for wages and salaries to catch up one class of people is going to have a tough time.
On the other hand we could have growth under a floating regime, which will result in a stronger dollar against gold, and a deflation back to some lower gold price, with a different class of people getting screwed.
The same question could be applied to the Middle East, where the present jerks are getting kicked out over inflation, but the future democratic governments are going to fail unless inflation is convincingly addressed in the interim.
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