Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Don Lloyd who wrote (21443)	7/19/2002 4:47:51 AM
From: Maurice Winn	Read Replies (1) of 74559

<Unless otherwise restrained, the objective exchange value of any good, including money, tends to fall to the level of its production cost, as demonstrated by the fiat dollar.> There seems to be some network-effect value in money too. Even though it cost nearly nothing to produce, the value is in the network and it's tough for my new currency to get a foothold. The weakness in his money is the dependence on trust in a dodgy political system. The strength of gold is dependent on nothing but the continued value of it in the minds of billions of people. The US$ has an extremely powerful network effect going for it and the cost of production of a new currency might be low, but the trust in a new currency and adoption of it is unlikely to compete any time soon. Mqurice

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