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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 173.96

+1.4%

Nov 11 3:59 PM EST

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To: Art Bechhoefer who wrote (38027)	8/15/1999 6:52:00 PM
From: Maurice Winn	Read Replies (2) of 152472

Art, if Alan Green$pan is doing such a great job, why is there a legal monopoly for the US$? Why not let anyone invent any currency they like and compete with each other? I'll tell you why, [in case you don't ask me for the answer]. It's so that the government captures the concealed monetary profits [there should be deflation but there is inflation thanks to continued money printing] from The New Paradigm and the interest on the US$ which the Fed issues. The Fed maintains control on the money supply so they can do some printing any time they feel the need for a bit more dosh or prices look stable. There is no need for a single currency other than kleptocracy and market efficiency = people don't need to quote several prices for the same item. With puters able to swap currencies with a click, that shouldn't be considered much of a problem. People whine about the MSFT monopoly which isn't. But they seem happy with the US$ monopoly for some reason, even though it pumps trillions out of their pockets into the Federal Reserve/Government clutches. Which is okay - maybe they look on it as a convenient method of taxation without the hassle of paperwork and other drama. The government needs some money to pay for civilization [police, legal, jails etc] and that's not a bad way of getting it. It would be interesting to see a competing currency. It will probably arrive in cyberspace where the US government can't control it. That will be a good test of who is running the best currency. Qualcomm is the logical company to develop the new currency. They have the technology and the financial backing [especially if they ganged up with MSFT, Lucent and a couple of others on it]. My bet is on the Q rather than the $. When Mighty Q! invents the 256 bit encrypted Q which can be sent by secure email, EFTPOS or other WWeb transactions, the US$ will be abandoned. Mqurice PS: This is very much On Topic discussion! Overload away. Also, even if every economist says independent regulators are a good thing, doesn't make it right. Even if every physicist says CDMA breaches the laws of physics doesn't mean it does.

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