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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>
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> > 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