[e-gold-list] Re: clear thinking

[Venkat Manakkal]

Pete Chown wrote:
> understand that the extra tax money has been wasted.  However, the
> government's good record on inflation counts in their favour.  As a

Good record on inflation? Who created it? What is inflation?

> Inflation is unpopular, so democratic governments have to try and stop
> it happening.

See question above?
> 
>> Deficit spending is simply a scheme for the confiscation of
>> wealth. Gold stands in the way of this insidious process.

> If the gold standard is in place, what stops the government simply
> borrowing the money/gold at interest?

Availability. You cannot borrow more gold than exists without becoming a
fiat currency.

Best regards,

---Venkat.

11



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