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To: BGR who wrote (46051)	6/10/1999 12:45:00 AM
From: Follies	Read Replies (1) \| Respond to of 86076

BGR, You raise some excellent points and I think the first thing to agree on is "what is money". IMHO money is a way to measure the relative equivalence (value) of various goods and services, rights and properties. Gold or dollars or AMZN shares are just units of measurement like inches meters or cubits. We establish an arbitrary standard to facilitate commerce and we make it portable by making it small and light. And the economy saw that it was good and thrived. Today billions of dollars can travel at the speed of light for virtually no cost and the economy thrives all the more. In the past the people who created the arbitrary standard abused it by changing the standard to their own advantage i.e. creating more and more fiat money. Since they were the ones to first spend this extra money they didn't feel the "inflationary" effects. We live in a society which is quite willing to pass laws to create more and more fiat money to give to the disadvantaged or whomever. An ever increasing group of people have an entitlement mentality. At some point the dollar will inflate, indeed it is inflating right now. We don't see inflation because it is measured against a set of goods and services which are becoming (rapidly) more efficient so we don't see prices of small things increasing at all. The PC is the best example of this. May be we should measure everything in PCs instead of dollars. My first car cost less than one PC. A car today costs 20-30 or more PCs. How is that for inflation?? Even gold production is more efficient dropping to $200.00 /oz from $350.00, and technology is the reason. I just heard John Kasick (sp) say that Social Security is under funded by 120 TRILLION dollars. I think inflation is inevitable. Its hard to argue the case for gold because the TA is so bad. The best thing I can say is I think it will still get you laid. Dale