The precise purpose of reserve type banking systems is that the value of the 'notes' can be changed. You view that as a failure but that is their basic purpose. I don't know how the present stagflation predicament will be fixed, if it can be fixed... but I'm quite sure it won't be with gold.
The price of oil is what's driving most things these days... or preventing things from moving forward... depending on where you are. The Canadian dollar has basically turned into a petro dollar in the last 10 years because of the amount of trade generated through what flows from McMurray... The downside is that the cost of oil is killing the rest of the country that doesn't share in that oil boom.
You should read about the Federal Reserve system and other relevant banking information... from a source other than the right wing/bible thumping/conspiracy theorists who are still living in the Victorian era. The Fed's own website has a fair amount of information on the purpose and function of the Fed...
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Today's Featured Article - Antique Tractors a Passing Fad? - by Tractor Talk Forum Participants. A Talk of the Town article - Do you see antique tractors going out like a fad? Value has come down this winter. An example is the Ford Model A and T cars that went through this in years ago, along with the hit & miss engine. Will the younger generation move on to something else? Will it be harder to sell them and what models will be affected? Could we see the value crash on our rusty relics?
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