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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Zeev Hed who wrote (75297)3/4/2001 8:20:15 PM
From: yard_man  Read Replies (1) of 436258
 
Gold is the money in the argument, Zeev.

You are turning it around and acting like the goods and services are the money ... nuts!

Inflation is commonly defined as the erosion of the purchasing power of the currency -- whether it is gold or paper or conch shells.

Goodness!

What we are talking about is the opposite of that:

the same amount of gold purchasing more goods and services as the gold supply grows slower than the supply of goods and services. This implies falling prices in terms of gold and appreciation of the purchasing power -- not an erosion of it.

You don't even understand the common parlance -- of price inflation.
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