Re: Infinite money

On Sun, 17 Jun 2007 01:57:53 -0700, 2006wells wrote:


"The Ghost In The Machine" <ewill@xxxxxxxxxxxxxxxxxxxxxxx> wrote in message
news:3lgdk4-qa7.ln1@xxxxxxxxxxxxxxxxxxxxxxxxxx


Money is in infinite supply and not created by labor.

Dribble. At somepoint, endless money creation would lead to moneylessness.

That's more likely "Drivel".

The amount of credit money is, however, not physically limited within the
scope of economics. It is not labor produced and it is not naturally
occuring.


Money, in the world's money system comes into existence by fiat.

Historically false.

We are not trying to address a system of "whales teeth". We are
concerned with political economy here.

--
"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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