Re: Mexico wants to introduce silver coins as currency
From: The Trucker (mikcob_at_verizon.net)
Date: 09/06/04
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Date: Mon, 06 Sep 2004 08:10:42 -0700
Darren Rhodes wrote:
>
> "Andy F" <aft627@aol.com> wrote in message
> news:20040903084512.22107.00002881@mb-m07.aol.com...
>> Darren Rhodes
>>
>> >"Andy F" <aft627@aol.com> wrote in message
>> >news:20040902181923.07779.00000022@mb-m25.aol.com...
>> >> zerge wrote:
>> >>
>> >> >I would greatly appreciate your comments on this plan.
>> >> >
>> >> >
>> >> >http://www.plata.com.mx/plata/plata/comHSP48a.htm
>> >> >
>> >> >
>> >> The article suggests that the paper money system is heading for
>> >destruction. I
>> >> don't see much evidence for this.
>> >> A problem with metal based currencies is that you sometimes get
>> >deflation.With
>> >> deflation the currency rises in value, so it becomes profitable for
> people
>> >to
>> >> hoard piles of money. This means there is less money available for
>> >productive
>> >> investment, which is bad for the economy.
>> >>
>> >>
>> >>
>> >
>> >Doesn't the process that you describe make the economy _more_ efficient
> in
>> >that money is available for more profitable ventures but not for lower
>> >profit ventures? Darren.
>> >
>> >
>> Depends what you mean by 'efficient'.A lower level of investment would be
> bad
>> news for anyone looking for a job.
>>
> Don't you have a long-term short-term discrepancy here?
No.
> Investing in
> everything and anything will create employment short-term but if the
> investments are poor the employment will not be sustainable because
> re-investment cannot occur if the cash has been frittered.
If the holders of gold have control of credit they can strangle the
real economy and thus increase their realative wealth, i.e. their
financial power. And BTW modern money is inexhaustible.
> If this is a
> private individual's cash or an investment fund's the individual or
> investment fund will go broke. Long-term unemployment will result.
> Darren.
A disadvantage of any monetary sustem that is based on a limiting
credit. The idea that there must be a safe full of gold to "back"
credit is stoooooooooooopid.
http://GreaterVoice.org/econ/credit.php
-- "I know no safe depository of the ultimate powers of society but the people themselves; and if we think them not enlightened enough to exercise their control with a wholesome discretion, the remedy is not to take it from them, but to inform their discretion by education." - Thomas Jefferson. http://GreaterVoice.org
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