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Commodity ETFs as Proxies for Private Money
Posted on May 22, 2008
Many free market economists lament the abandonment of Bretton Woods (1971 under Nixon), when the U.S. formally stopped promising gold redemption for Federal Reserve notes (U.S. dollars). It s not that these free market economists particularly love gold, they just want some kind of constraint on the ability of central banks to print money. As is the case with many things in life, an innovative financial system and technology have come to the rescue of the problem of governments printing too much money, which causes currency debasement and inflation. Do you want a currency backed by gold? ...
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