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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (31445)6/4/2005 5:46:47 PM
From: skinowski  Read Replies (1) of 116555
 
What's real money? It's all relative. One problem we have is that the guy with probably the best brain of the last century - Albert Einstein - elected to be a physicist, and not an economist.

Measured in Gold - since 1980 until the recent times - we experienced great inflation, since during most of that period it took more and more Gold to buy cars, homes, haircuts - and even Dollars.

Gold price - in Dollars - has been deflating during most of that period. Measured in Dollars, we had a milder inflation in the price of goods and services then if prices were measured in Gold.

Measured in Black Gold - Oil - we experienced significant ups and downs in general prices, depending on many things which influenced the supply:demand ratio of this particular brand of "money".

When I traveled in France in 1976, people made sour faces when they saw Dollars. By 1985, they loved them - right at the top, just as the Dollar was about to deflate - as measured in their own money. Getting 3 DM or Dutch Gilders for a buck was sweet.

So, what am I saying here, with this attempt at humor? Perhaps, that maybe in the end there is no such thing as "real" money. He who can foresee the next swing in relative values - will be the winner.
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