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View Diary: China Cuts US Credit Rating. Obama Cuts Hawaii Vacation Short. (171 comments)

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  •  Well I'd like to understand your point, Ann (3+ / 0-)
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    FG, chuck utzman, Larsstephens

    That's why we're here. I only took issue with the proposition that fiat currency leads inevitably to hyperinflation, or that hyperinflation is due to other than a supply shock. Our only other disagreement seemed to be on the issue of whether the platinum coin if issued would be backing  the currency. My position is the platinum coin would still be fiat money, and it would not back the currency because backing would imply convertibility to platinum which is not a part of the proposal. The entire platinum coin proposal is formulated on compliance with current law, it is not predicated on changes to what is presently on the books.

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