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Gold/Mining/Energy : Gold Price Monitor
GDXJ 93.98+0.6%Nov 21 4:00 PM EST
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To: E. Charters who wrote (86349)6/4/2002 7:41:20 AM
From: Don Lloyd  Read Replies (1) of 116764
 
E.C. -

Money should grow to remain unitarily euqally available to an expanding population and to be commensurate with production, otherwise you get perceived deflation, don't you think?
Perhaps the term "growth potential" (also) pointed at the growth inducement of capital availability.

There is always either inflation or deflation going on, resulting from both a variety of short term causes and fads and from long term structural trends as well. Overall price changes are really only statistical approximations of the accumulation of individual goods prices paid by individuals. Since every good and its price is subject to its own local negative feedback loop of supply and demand, overall inflation and deflation will be regulated to a much higher degree than would be expected from just an inspection of all the factors that cause inflation or deflation and their power. In the absence of deliberate intervention by the state, the subdued inflation and deflation that would appear over time should be relatively easy to adjust to.

Increases in the quantity of money and credit have no more social or economic value than adding an additional 0 to the denomination of every Federal Reserve Note. Similarly, artificial increases in the availability of capital merely serve to distort and disturb the economic balance between present and future goods.

Regards, Don
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