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Pastimes : I AM A MINDLESS ZOMBIE
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To: TobagoJack who wrote (4)8/14/2002 7:00:28 AM
From: Maurice Winn  Read Replies (1) of 258
 
Jay, with all due respect to your goldfish, fish is NOT a suitable means of exchange and unless that fish is literally made of gold, it won't do as a store of value either [give it three days in a bank vault and see what I mean].

All Uncle Al, KBE, had to do was supply the inches at a constant length. He did that. Despite all the productivity changes, hedonistics, financial gyrations, oil production cuts and increases and Russian implosions, he managed to maintain inflation at near zero and profits to the Treasury in nice amounts.

That's all he has to do.

Keep the inches constant and return the profits to the government.

He did it.

The US$ standard is still King Kong and people still work almost the same number of hours to earn one of them. That's what is supposed to happen. It's no use having a variable measuring system which changes capriciously.

What the lunatics do who use his inches is up to them. But if they pretend to themselves that their thingie is ten inches when it's really only two, that's not really Uncle Al's problem. They will be cruelly rejected by the marketplace if they can't measure accurately. If they think their shares are 10 feet long and they are really one two inches long, they are going to get an unpleasant surprise. Uncle Al can't control their ability to measure their thingies or their stocks. He just provides the inches. The rest is up to them.

Mqurice
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