Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (19480)	6/5/2002 5:34:08 AM
From: Don Lloyd	Read Replies (1) of 74559

M - ..."In God We Trust" money is infinitely elastic with zero cost in the stretching process. It can be stretched at any speed. Gold is inelastic except that with a great deal of effort with a production cost of about US$200 an ounce, more can be produced. But as you suggested, the existing gold is about all there is. If it becomes suddenly popular, the price has to go up to satisfy all who want to buy it. ... Money is the only economic good that provides no economic or societal benefit from an increased supply. This would be true of gold as well if it were not for its non-monetary uses. Regards, Don

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