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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Mark Adams who wrote (75378)	3/5/2001 1:22:32 PM
From: yard_man	Read Replies (1) of 436258

wasn't what we we discussing, but I'm sure if gold ever regained a position as currency more would be mined. What's your point? Mining will continue absent such a future. And where is gold mining in terms of environmental damage as compared to the mining of energy resources and a host of other activities? First, I made no original assumption myself about whether gold supply could/should grow at a rate behind the growth in GWP -- that was Zeev's assumption and it may be a poor one. I simply sought to correct the error in his reasoning starting from his assumption of that relationship. i.e. that inflation would result -- the opposite would occur -- prices would fall in terms of gold under that scenario. In the broader context -- I have a couple of thoughts regarding a medium of exchange: 1) Governments always lack the will to be responsible concerning the monetary base. The temptation to manage is simply irresistable. 2) Hence, probably the only realistic way to enforce soem sort of discipline is to set a standard that ties to something that is fungible, relatively rare, but most assuredly not used for everyday consumption

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