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Title : A Reply From The Idaho Illustration On His Incoherent Declaration On Gilt Every Mo An Inflation Hedge
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A Reply From The Idaho Illustration On His Incoherent Declaration On Gilt Every Mo An Inflation Hedge

 Mat Erpelding

David Mueller writes every bit a follow-up to my post, OMG An Idaho Politician Just Said This About Gold:

I wrote to the Idaho representative, Mat Erpelding, who made the comments nearly gold.

I looked upwards his e-mail address in addition to wrote to him.  I snagged your comments (as they were improve than anything I would cause got had fourth dimension or loose energy to come upwards up with) in addition to threw it into the missive of the alphabet in addition to sent it off.

Surprisingly, he wrote back.  See below.

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Dear Sir,

I read your remarks nearly gold.

“If nosotros tell that aureate is going to protect us from inflation, I desire to betoken out that inwards 1868, aureate was $27 an ounce, in addition to today aureate is $1,218 an ounce. So, nosotros can’t tell that aureate is going to protect us from inflation when yous cause got that type of a cost make over the terminal hundred years. So, I but desire to betoken out that facts are important."

Rep. Erpelding, delight empathize that if the cost of aureate has climbed from $27.00 per ounce inwards 1868 to a introduce value of but about $1,218.00 an ounce, it agency that aureate has maintained its purchasing value inwards the human face upwards of the declining purchasing value of the Federal Reserve controlled U.S. of A. dollar.

Kind Regards,

David Mueller

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Yep. I messed upwards my argument.

Sincerely,
Rep. Mat Erpelding
House Democratic Minority Leader
District 19
PO Box 1697
Boise, ID 83701

 RW note:

Since receiving Mueller's email, I too cause got written to Rep. Mat Erpelding:

Dear Rep. Mat Erpelding,

It has come upwards to my attending that yous cause got admitted your fault amongst reckon to your comments on aureate every bit an inflation hedge (A Response from the Idaho Representative on His Incoherent Argument on Gold every bit an Inflation Hedge). 

It is actually rare to meet a pol acknowledge a mistake. Bravo! I was fully expecting yous to blame it on Adam Smith, the Russians or, perhaps, Roger Stone.

Under dissever cover, I cause got sent yous a re-create of my book, The Fed Flunks: My Speech at the New York Federal Reserve Bank. I promise it proves informative nearly coin in addition to the Federal Reserve, for what I suspect volition live on a long political career for you.

Best regards,

---

Robert Wenzel

Editor & Publisher

San Francisco, CA

UPDATE

Rep. Erpelding's answer to me: 

Thank you. We all brand mistakes in addition to I made a big one! I volition read your book!Mat

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