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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (162359)4/26/2002 10:55:30 AM
From: Knighty Tin  Read Replies (3) of 436258
 
DAK, Nah, I mean that governments had no more problem debasing gold coins than they have printing fiat money. And, as with printing, the first govt. to do it gets most of the benefits.

The other problem with asset based money is who becomes rich. Do we want South Africa to be the richest country on Earth? Or, if we use oil, Saudi Arabia? Do we want the world to be at the mercy of cutoffs from these two countries?
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