Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (29173)	2/25/2003 1:14:02 AM
From: Don Lloyd	Read Replies (1) of 74559

dj, "Let's put some more coins into the fuse box" I haven't been following the thread along, so I'm not sure if you know where this comes from, although you probably do. It comes from a Greenspan quote effectively arguing that it is misleading to say that a paper money system is better than a gold standard money system because it doesn't involve the expense and resources used up in digging up gold and then burying it again in some kind of bank vault. The penny is less than the cost of a fuse, but it fails to consider the cost of a resulting electrical fire, just as the cost of inflation is not attached to the paper money system when making the comparison. Regards, Don

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