Prosperity Through Gold: "An Essential Part of a Brighter Future"

Statement

From Joe Cobb
To Wayne Nesmith

Lehrman's phrase, "to define the dollar," is a distinction without a difference from price fixing. Field-ground problem. A "dollar" defined as one grain of gold is the same thing as a price fix for one grain of gold to be "one dollar." It still does not give a meaning to the word "dollar," unless you are creating a new unit of weight based on grains and grams and such as that. Limited to gold? Not weights.

Focus on the IQ = 75 concern. If anything is to be accomplished in changing the frame of reference for viewing and thinking about relative prices (or relative values) then something has to be done to change the way people think about and talk about relative values. So long as the magic noun, "dollar," is in common parlance it will be a distraction to clear thinking about economic relative values.

And yes, I know, I am being a "fundamentalist." I could support an imperfect system, but I would hate it for its imperfections. And those imperfections would probably bring it crashing down within 100 years, just like the triumph of the international gold standard after 1871 lasted such a short period. About 100 years from the end of the Franco-Prussian War, when Germany took French booty and converted to a Gold Mark. Then Richard Nixon in 1971 decides to junk the system because he doesn't want to give American gold to England and allow the Soviet Union to proudly show off its "bigger penis" of gold. (Wonder what happened to all of Russia's gold after 1991?)

_______________
Thanks, Joe Cobb
Glendale, Arizona
www.JoeCobb.com

Source