Posted by RodInNS on October 06, 2014 at 08:37:41 from (216.118.158.123):
In Reply to: Re: London price fix posted by Traditional Farmer on October 06, 2014 at 05:42:12:
Actually, that notion is patently false. There are any number of situations throughout history where items other than gold were readily traded between nations that did not have currency to trade with. One prominent example was the Lend-Lease agreement between the United States and great Britain at the outset of WWII. The US supplied a portion of it's navy to the UK in exchange for long term leases on bases on UK holdings throughout the world... this being done because the UK at that point had no more money to pay with. In a situation such as Argentina, I'm sure they could pay with corn, soybeans, beef, etc. There's no need for it to pay with gold...
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