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To: Gary H who wrote (63331)2/5/2001 9:34:24 AM
From: Alex  Respond to of 116753
 
Ahead of His Time Today, if John Law or his critics could witness commerce conducted in any mall with credit cards, banknotes, and checks—not a gold or silver coin in sight—they would see, incontrovertibly, his vision achieved, but recognize also the same inherent weakness. The survival of any credit-based financial system still hinges on public confidence in a way that one based on gold does not. Spectacular financial breakdowns have peppered history ever since the advent of paper credit.

—Janet Gleeson, Millionaire