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True, but such a condition can only last for a short time before actual gold counterfeiters begin to compete with each other, and with currency counterfeiters, for business.  Once people stop trusting the weight of gold involved in everyday, local transactions, any advantage of gold over currency disappears and "bad money" starts again "drive out the good" as people hoard the gold instead of using it as currency.  
by santiago on Sun Jan 1st, 2012 at 12:06:12 PM EST
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