Dear Danny,
An economy where only gold is used as money, would have
some problems.
We actually have an example of such an economy.
Consider the Byzantine empire, from 450 to 1453 AD.
The entire economy was based on the gold solidus
coin. As a result, Byzantium traded with every
country in the
--- Jim Davidson [EMAIL PROTECTED] wrote:
We actually have an example of such an economy.
Consider the Byzantine empire, from 450 to 1453 AD.
The entire economy was based on the gold solidus
coin. As a result, Byzantium traded with every
country in the known world,
Joel Otinwa has a lot going for him. He is an undeniable expert in
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tracking
These features could be easily implemented using existing technology -- I
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Smart cards are a
Dear Patrick,
Why stop at 10%? Crank it up to 20%
He is not creating any value...
Other people are creating the value.
Really?! Why should they create value if you don't. You tell Danny not to
stop at 10% inflation, yet you want *other* people to create value. And you
talk about slavery
... quite a few people I know who have gold have invested it in The Gold
Casino. PVCSE is based entirely on the notion that people are prepared to
use gold to buy stocks. GoldBarter.com is based on the concept of
exchanging
gold for other things of value. Many auctions on eBay are available with
Dear Jim,
The supply of gold grows. What do you think gold mining companies are
doing?
I agree, but there is one catch: the gold does not belong to the people. So,
the welth of those who mine the gold and of those who own the land increases
with 2% per year, not of a country.
Best regards,
In other words, this 'only gold' economy always functions with the
brakes
on.
Yes, the computer industry is certainly functioning with the brakes on,
isn't it? My goodness, the amount of computing power you can get for
the money is doubling every year, so people tend to postpone buying
An economy where only gold is used as money, would have
some problems.
We actually have an example of such an economy.
Consider the Byzantine empire, from 450 to 1453 AD.
The entire economy was based on the gold solidus
coin. As a result, Byzantium traded with every
country in the known
On Monday, October 6, 2003, at 12:55 AM, Steve Schear wrote:
Under a gold standard, the amount of credit that an economy can
support is determined by the economy's tangible assets, since every
credit instrument is ultimately a claim on some tangible asset, ...
This reminds me of another
At 12:01 PM 10/6/2003 +0300, FileMatrix wrote:
Yes Steve, I agree with what you just said, but what you don't accept to
understand is that USA is the only country that can afford to inflate its
currency because the USD circulates in the entire world. So, for the other
countries of the world it
I think you need to check your facts. As Greenspan said All countries
that use non-gold backed fiat money inflate their currencies. Period.
Steve, I was referring to over-inflating the currency - printing money
without having economy to back it up with.
Forrest, I didn't get your
On Monday, October 6, 2003, at 05:01 AM, FileMatrix wrote:
Why stop at 10%? Crank it up to 20%
He is not creating any value...
Other people are creating the value.
Really?! Why should they create value if you don't.
You tell Danny not to
stop at 10% inflation, yet you want *other* people to
Dear George,
I agree, but there is one catch: the gold does not belong
to the people.
Gold very obviously belongs to some people. Are you opposed
to gold because it hasn't been nationalized by the so-called
dictatorship of the proletariat?
Gold was nationalized in the Soviet Union. All those
Dear Jim,
Are you opposed to gold because it hasn't been nationalized by the
so-called dictatorship of the proletariat?
Maybe you have not read what Patrick said about gold belonging to *people*,
not to the country. In that sense I told you that the mined gold doesn't
belong to the people.
On Monday, October 6, 2003, at 01:40 PM, Steve Schear wrote:
At 12:11 PM 10/6/2003 -0400, Patrick Chkoreff wrote:
It is also precisely why the US government will never allow the
payment of taxes in gold, and why in the 1930's they banned
businesses from writing contracts denominated in gold.
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From: Steve Schear
Sent: Tuesday, 7 October 2003 3:35 AM
Subject: [e-gold-list] Re: When e-gold takes off in a big way
[Addressing FileMatrix, he writes:)
Well, as the joke goes... we've already established what you
are, now we're
just haggling over the price. Inflation is theft. What
On Monday, October 6, 2003, at 08:15 PM, FileMatrix wrote:
You don't like a government to have too
much power, yet you have no problem with a company (those who would
mine the
gold - everybody's money) having too much?! What is the principle that
1. Those who would mine the gold don't have
Dear Danny,
Hmmm. 450 to 1453 AD is not exactly known as a time of
great progress.
Yes, it is. It was a time of great progress in Byzantium
and in the Caliphate. The Caliphate eventually succumbed
to the Mongol hordes of Genghis Khan, and Constantinople
finally fell to the Turks. But, during
(1) An individual saves money, i.e.
spends less than he earns. (2) The individual seeks a return on his
savings, so he invests it with, say, a venture capital firm. (3) An
entrepreneur approaches the venture capitalist with a promising
business plan. (4) The venture capitalist invests a
-BEGIN PGP SIGNED MESSAGE-
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Hello Estonia, Slovenia, Sweden and the United Kingdom!
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[EMAIL PROTECTED]
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So... if inflationary fiat (fake) money works better than
real money because people are so eager to get rid
of it before it loses value that it kicks the economy into
a frenzy of action...
Then fake computers which slow down by 10% every
year would be great for the economy too, because
people
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Hello Ian,
Actually the 4 wives rule is more of a guideline than a rule and once you
practice polygamy you will realize that the only way to keep the wives at
bay is to keep adding ;o)
That said, isn't the reason governments *want* and *need* inflation simply
that it is the only way to continue
Hmmm. 450 to 1453 AD is not exactly known as a time of
great progress.
It is better known as the dark middle ages.
Dark ages in Europe, but a lot of scientific and social advancements
were made in the Muslim world during this period.
Khurram Khan
---
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