Bulls Back On Defense As Stocks Point To Early Weakness

[David Morris]

http://www.slate.com/id/1912/

The Gold Bug Variations
The gold standard--and the men who love it.
By Paul Krugman

The legend of King Midas has been generally misunderstood. Most people
think the curse that turned everything the old miser touched into
gold, leaving him unable to eat or drink, was a lesson in the perils
of avarice. But Midas' true sin was his failure to understand monetary
economics. What the gods were really telling him is that gold is just
a metal. If it sometimes seems to be more, that is only because
society has found it convenient to use gold as a medium of exchange--a
bridge between other, truly desirable, objects. There are other
possible mediums of exchange, and it is silly to imagine that this
pretty, but only moderately useful, substance has some irreplaceable
significance.

On Fri, Mar 20, 2009 at 8:57 AM, Paul Mackin <mackin.paul at gmail.com> wrote:
>
> ----- Original Message ----- From: "rich" <richard.romeo at gmail.com>
>> essentially our answer to the problem is.. to just print more money
>
> Essentially it's probably the correct action.  The function of the central bank is to create money when it is needed.
>