[e-gold-list] Re: Is Gold Too Scarce to be Worldwide Money?
From: Ken Griffith [EMAIL PROTECTED] What is enough? Digital gold is divisible as fine as you want to take it. The more the economy grows, the more the buying power of gold grows. Your question is evidence of a failure to understand the relationship of supply and demand. Gold is scalable - infinitely scalable. No, I did not fail to understand anything. I demonstrated my understanding of this scaling principle quite explicitly. Allow me to quote myself: If gold were the sole form of money, it seems that it would be far too valuable to be practical. A mere microgram might buy you a week's worth of groceries. All you're saying is YES, a microgram might indeed buy you a week's worth of groceries. I did pose that as an alternative, I just thought that might be impractical. Yes, if it's all digital, then maybe it IS practical (although I think current DGCs only go down to the milligram). If it's NOT all digital, then I suppose there might be paper certificates for just one microgram of gold, but coins would be out of the question because they'd be far too valuable. Now JP's question about how many DOLLARS there are per capita was quite intriguing, and got me thinking some more. If there are only 200 DOLLARS per person, then what's the big problem with 3/4 troy ounce gold per person?! It actually sounds fairly commensurate when you look at it that way. If a microgram buys a week's worth of groceries, then I say WELCOME to that kind of price deflation! These are the kinds of price decreases John was talking about when he compared it to the computer market. Bring it on! Regards, Patrick --- You are currently subscribed to e-gold-list as: archive@jab.org 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.
[e-gold-list] Re: Is Gold Too Scarce to be Worldwide Money?
I believe that the amount of gold and silver available depends strictly on the price. At the moment many gold and silver mines are shut down because of the low price of these metals. A number of other processes that are able to recover gold from say seawater are at this time too expensive to bother with. Given a true free market in gold and other precious metals, Prices would quickly stabilize at a level that would enable the mine owners a profit on formerly unprofitable mines. Also with a true bimetal, or even trimetal standard ,using copper as was used previously, plus the ware house receipts for large transactions, The world wide economy would soon begin a rate of growth unseen in the last 100 years. This would be accompanied with falling prices such as have been seen previously in the computer market. Even with initial high demand for previously expensive goods, prices should continue to gradually fall for say a century or two. This would also ofcourse have to include the collapse of most governments to prevent both misdirected investments and inflations. If e-gold style commerce were added to the equation the results would be amazing. --- You are currently subscribed to e-gold-list as: archive@jab.org 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.
[e-gold-list] Re: Is Gold Too Scarce to be Worldwide Money?
JP, You should ask the question How many US dollars on earth once all national currencies are converted to US dollars. My guess is between 25-30 trillions or $4000 per individual. There are 31,103 mils (milligram per ounce). So each mils will be worth near $0.13 cents if all currencies are converted to gold. Does that make sense? Claude Cormier Ormetal Inc. http://www.goldcurrencies.ca http://www.ormetal.com = Claude Cormier Public Key http://www.ormetal.com/keys/ClaudeCormier.asc = --- You are currently subscribed to e-gold-list as: archive@jab.org 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.
[e-gold-list] Re: Is Gold Too Scarce to be Worldwide Money?
From what I can tell, gold is TOO SCARCE to serve as the only form of money There just isn't enough of it. Am I right? I don't think so. Theorically, since gold in the digital economy is highly divisable, there are more than enough mils (milligrams) for everybody on this planet. Simply said, the mils (milligram) will be worth what is needed to reach the equilibrium level. Claude Cormier Ormetal Inc. http://www.goldcurrencies.ca http://www.ormetal.com = Claude Cormier Public Key http://www.ormetal.com/keys/ClaudeCormier.asc = --- You are currently subscribed to e-gold-list as: archive@jab.org 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.
[e-gold-list] Re: Is Gold Too Scarce to be Worldwide Money?
From what I can tell, gold is TOO SCARCE to serve as the only form of money. There just isn't enough of it. What is enough? Digital gold is divisible as fine as you want to take it. The more the economy grows, the more the buying power of gold grows. Your question is evidence of a failure to understand the relationship of supply and demand. Gold is scalable - infinitely scalable. Kind regards, Ken Griffith --- You are currently subscribed to e-gold-list as: archive@jab.org 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.
