He has responded this way:
Uh huh. Someone hasn't looked at an inflation chart going back to the start of the US. If they had, they'd realize that hard money isn't the answer - in fact, it produces monstrous AND EXTREMELY VIOLENT currency valuation changes, with some oscillations exceeding 40% in the space of one year. Try planning for THAT!First, I am not sure what charts, Karl, you are looking at outside of the charts of gold priced in terms of the dollar and other currencies. Wouldn't it make more sense to think it was the paper currency fluctuating around gold, since the supply of gold rarely in all of history has increased dramatically.
That's what happens when you stick your head up your ass and refuse to look at the data that is publicly available
Second, are you aware of there ever, ever, being a distortion of the capital goods/ consumer goods ratio because of gold?
Third, Karl are you aware of any case in history when hyper-inflation has been caused when gold was the money?
Fourth, do you know why even a "zero price inflation" policy causes distortions in the capital structure of an economy?
Karl, you do some good work from time to time, but you don't understand money and how money printing distorts the capital structure even when there isn't price inflation.