Greece: Of paupers and taxes | 143 comments (143 topical, editorial, 0 hidden)

Re: Isn't it rather obvious (none / 1)

And that was threatened, in the mind of the sound money crowd, by the ballooning US government debt due to the Vietnam War buildup among other things, as well as by the US' trade balance reversing from net exporter to net importer (due in part to Germany and Japan taking over as exporters of last resort as a result of the success of post-war US global macro policy).

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Carrie (migeru at eurotrib dot com) on Sun Feb 17th, 2013 at 12:27:01 PM EST
[ Parent ]

Re: Isn't it rather obvious (none / 0)

Also by the increasing importance of dollars as a parallel currency in European banking (Eurodollars), called the "dollar glut". Raising fears of well-known monsters and unsound money. Who wasn't "sound money" back then?

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Feb 17th, 2013 at 12:56:13 PM EST
[ Parent ]

Re: Isn't it rather obvious (none / 0)

Who wasn't "sound money" back then?

Well, if you have a Gold Standard, sound money is the lay of the land... as in the Eurozone today.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Carrie (migeru at eurotrib dot com) on Sun Feb 17th, 2013 at 12:58:48 PM EST
[ Parent ]

Re: Isn't it rather obvious (none / 0)

It was also the case that the prices were rising while the price of gold was being held down by central banks. So it was in part the purchasing power of gold that they saw as being threatened, as well as the gold standard.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Feb 17th, 2013 at 03:10:26 PM EST
[ Parent ]

Greece: Of paupers and taxes | 143 comments (143 topical, 0 editorial, 0 hidden)

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