gold. In such a scenario, he felt that gold would have to be priced at $105 per ounce. He also feared a much more likely, and dangerous, third option: that the government would do nothing (which was precisely what they chose to do). Then as now, the choice was between facing the music or deferring the problem to future generations. They deferred, and we are the future generation. Tower was so impressed with the basic logic of his arguments, that he invited Irwin in to address the entire committee. At the hearings, all the highly placed monetary experts from the Federal Reserve, the
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