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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (6876)7/25/1999 1:26:00 PM
From: Ahda  Respond to of 82039
 
I think when you look at and i could be wrong you are doubling up when coinage was of value and it was just a method of making barter easier. I dont have a horse but i do have this for your wheat. now the fiat we use serves the smae purpose but we have a new gauge of labor productivity which too shall change.

ncpa.org
But in some cases the growing ease of communications is changing that -- rewarding workers at global rates. With the advent of the Internet, people with scarce skills can live in one country and work in another, commanding an international rate of pay.



To: Enigma who wrote (6876)7/25/1999 2:30:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 82039
 
D. Gold is not, but the monetary base is. Friedman's disciples will tell you that if monetary aggregates are not held at a constant ratio to GDP (the constant being related to money velocity and thus a moving target on its own) you get either inflation or deflation. When gold was convertible and a currency backing asset, I believe that its ratio to total currency in circulation was constant and that ratio was much higher than 5% for each country.

Zeev


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