The American Heritage Dictionary defines "inflation" as: "2. A persistent increase in the level of consumer prices *or* a persistent decline in the purchasing power of money, *caused* by an increase in available currency *and* credit beyond the proportion of available goods and services."
But the thing is "inflation" can be used for various things (balloons, Universe, prices, goods, money supply), in various contexts, so I think is useless to argue about its definition. It depends of what it refers to! JPM, > one problem with land specifically is that it is only owned by the > Sovereign - the people who laughably think they "own" land are just > renting it from some government (by paying land tax etc) and the land > can be take back by the gov. at any time for numerous "reasons" > In contrast, gold happily is owned free and clear "in hand". That's why I don't like property tax, even though it has the advantage of filtering successful businesses from the rest. Gold too can be seized by governments. It happened! John, > That's not exactly why gold keeps value. A dollar bill today will also be > the same dollar bill in 50 years. The key is one is open to > manipulation-magic and one is not. Remember "diamonds are forever"? Well, both diamonds and gold are forever, but they are also manipulated by those who mine them out of the ground. Of course, it is harder to manipulate gold than it is to manipulate diamonds. DeBeers has very small competition, while gold is mined by more companies and is used on a larger scale. Danny, > It is increasing prices for goods and services that CAUSE an increase in > money supply. People can start spending less if prices go up, so the money supply could remain the same. > Constantly evaluating the property? Why? The market will decide the value of > a piece of the property portfolio, just like it does with the reits. I didn't know about REIT. On what base does the market decide the value of a property. Either because others constantly evaluate the property, or because just feel a certain way. Land looks better than gold, but it's much more complicated to manage. So, gold is easier to use, it needs no "global scale" portfolio. George Hara ------------------------------------------------------- Xnet scaneaza automat toate mesajele impotriva virusilor folosind RAV AntiVirus. Xnet automatically scans all messages for viruses using RAV AntiVirus. Nota: RAV AntiVirus poate sa nu detecteze toti virusii noi sau toate variantele lor. Va rugam sa luati in considerare ca exista un risc de fiecare data cand deschideti fisiere atasate si ca MobiFon nu este responsabila pentru nici un prejudiciu cauzat de virusi. Disclaimer: RAV AntiVirus may not be able to detect all new viruses and variants. Please be aware that there is a risk involved whenever opening e-mail attachments to your computer and that MobiFon is not responsible for any damages caused by viruses. --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
