Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/18/84 exptools; site whuxl.UUCP Path: utzoo!watmath!clyde!cbosgd!cbdkc1!desoto!packard!hoxna!houxm!whuxl!orb From: orb@whuxl.UUCP (SEVENER) Newsgroups: net.politics.theory Subject: Re: Re: The gold standard. Message-ID: <502@whuxl.UUCP> Date: Fri, 1-Mar-85 15:34:12 EST Article-I.D.: whuxl.502 Posted: Fri Mar 1 15:34:12 1985 Date-Received: Sun, 3-Mar-85 02:40:32 EST References: <613@ukma.UUCP> <> <1600@bmcg.UUCP> <672@ccice5.UUCP> <990@calgary.UUCP> Organization: /usr/exptools/lib/netnews/myorg Lines: 21 > > Our local PBS feed is running an English series called "The Great Depression". > > Last week's episode explained how Britain's return to the gold standard after > > WWI actually heavily contributed to it's depression (which started before > > our's). I suggest this show for anyone interested in that period. > > My understanding is that Britain after World War I tried to return to > the gold standard AT THE PREVIOUS POUND-GOLD CORRESPONDENCE. During the > war they had left the gold standard inorder to finance the war through > inflation. Returning to it afterwards was a reasonable thing to do, but > trying to undo all the previous inflation was not reasonable. > > Radford Neal > The University of Calgary A good lesson for all the goldniks as they lead us down the path to another Depression. It is very interesting that Ronald Reagan has a picture of Calvin Coolidge in the White House: he is following in the same mistakes made over 50 years ago. The present economic "boom" is built upon a house of cards: when it collapses most of us will be suffering. tim sevener whuxl!orb