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Huntster wrote:After intense pressure from Senator Alphonse D'Amato and the U.S. Government in unprecedented support of the World Jewish Congress
A gold standard would result in exponential deflation, and the collapse of capitalism. Inflation is necessary for the capitalist mode of production to remain feasible and optimal, and I do not understand criticisms of the existence of inflation.
After intense pressure from Senator Alphonse D'Amato and the U.S. Government in unprecedented support of the World Jewish Congress
It's because of Jews that Switzerland switched to fiat currency?
Huntster wrote:It's because of the United States government using Jews as a tool.
Huntster wrote:You don't think Washington liked a stronger currency out there, do you?
It's because of the United States government using Jews as a tool.
So, what...the financial damages the WJC sought were so extreme it severely depleted Switzerland's gold supply or something?
The Swiss franc has historically been considered a safe haven currency with virtually zero inflation and a legal requirement that a minimum of 40% be backed by gold reserves. However, this link to gold, which dates from the 1920s, was terminated on 1 May 2000 following a referendum regarding the Nazi gold affair with Swiss banks and an amendment to the Swiss Constitution. By March 2005, following a gold selling program, the Swiss National Bank held 1,290 tonnes of gold in reserves which equated to 20% of its assets.
It seems to vary from case-to-case. Sometimes Washington wants a weaker currency, sometimes stronger.
Zerogouki wrote:"Fiat" is a French word meaning "fail"
And best of all... it's SHINY!
base-inflation presents no risks if kept at a stable, low rate,
would help keep the value of the dollar stable over long periods of time,
The more important question is maintaining a strong, competitive economy, and your sole solution is to act like a turtle; instead of addressing the malbehavior of our economy policy, you prepose to duck into our shell.
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