The superpowers of China, Russia, and the United States may without knowing it be racing towards reopening their mints to the monetary metals. The governments of these countries are like the heroes of Greek tragedies: they are drawn to their fate by destiny. There is no way for them to avoid Kismet, regardless of what they do. This leads to the question of what is meant by opening the mint to the unlimited coinage of gold and silver free of seigniorage...
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Monday, February 11, 2008
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