people like Munger do not hate goldbugs, they are

not running gov.

Human society itself is a ponzi scheme, when population drops, no matter how much gold you have, material and service will get expensive.

On the other hand, when we are in financial crisis, we need to print money, a bank run on the whole world's economy system is far worse than printing some money. we need to be conservative printing or making too much promises when economy was good.

所有跟帖： 

• he does not hate them, he just call them jerks -大猪头-- ♀ (225 bytes) () 01/18/2011 postreply 16:21:06

• are founding fathers experts on economy? especially mordern econ -longterminvestor- ♂ (135 bytes) () 01/18/2011 postreply 16:29:14

• study some history, please -大猪头-- ♀ (102 bytes) () 01/18/2011 postreply 16:32:14

• what is wrong with my statement? -longterminvestor- ♂ (91 bytes) () 01/18/2011 postreply 16:35:47

• try to answer the questions I raised -大猪头-- ♀ (51 bytes) () 01/18/2011 postreply 16:37:04

• OK, the founding fathers are not jerks in their times to believe -longterminvestor- ♂ (887 bytes) () 01/18/2011 postreply 16:50:33

• sound money provides dicipline -大猪头-- ♀ (80 bytes) () 01/18/2011 postreply 16:36:09

• I agree dicipline is important, but it does not mean -longterminvestor- ♂ (324 bytes) () 01/18/2011 postreply 16:42:39