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Money supply, gold, taxes

Submitted by Philip Brewer on January 18, 2008 - 12:16.

@Kelja: I think you'd find that our views on what inflation is are very much the same. That doesn't mean, though, that gold is always a good buy. (Like anything, whether it's a good buy depends entirely on the price you can buy it at.) It was a great buy when it was under $300. (I bought some.) Whether it will turn out to be a good buy at $900 is something that we'll only know after the fact. (I wrote a bit about Gold as an investment a while back.)

@Guest: Tax policies like the one you suggest might reduce the risk of a recession, giving the Fed more room to rein in money supply growth. (Of course, changes in tax policy don't affect the money supply, so they won't have an effect on inflation all by themselves. They might have an effect on prices, though, making the whole thing rather fraught.)

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