Inflation!
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Author Topic: Inflation!  (Read 3509 times)
Richard
Richius
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« Reply #25 on: January 22, 2005, 02:06:02 AM »
Quote from: John Ford on January 21, 2005, 11:06:37 PM
If you back currency with gold, and the price of gold drops, then the value behind the currency drops unless you add enough gold to your central bank to offset the reduced price.  If the value behind currency falls, the value of currency falls,
How do you get from there, to:

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The Duke
JohnD.Ford
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« Reply #26 on: January 22, 2005, 02:08:17 AM »
Quote from: Richius on January 22, 2005, 02:06:02 AM
Quote from: John Ford on January 21, 2005, 11:06:37 PM
If you back currency with gold, and the price of gold drops, then the value behind the currency drops unless you add enough gold to your central bank to offset the reduced price.  If the value behind currency falls, the value of currency falls,
How do you get from there, to:

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Its a straight line.  If the value of a currency falls, it has less purchasing power.  It can buy less.
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