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To: Tommaso who wrote (4149)	6/4/2001 12:55:15 PM
From: pater tenebrarum	Respond to of 74559

absolutely agree re. modern medicine. no doubt the quality of life has improved in many ways, and will continue to do so. nevertheless, the constant money printing is imo a big mistake. i'm going to see if i can find a few relevant quotes from Murray Rothbard's 'the case against the Fed' and post them later.

To: Tommaso who wrote (4149)	6/6/2001 11:18:08 AM
From: pater tenebrarum	Read Replies (6) \| Respond to of 74559

here's the quote by Murray Rothbard from 'the case against the Fed': The invariable result of an increase in the supply of a good is to lower its price. For all products, except money, such an increase is socially beneficial and living standards have increased in response to consumer demand. But an increase in the supply of money cannot relieve the scarcity of goods; all it does is to make the dollar or the franc cheaper, that is, lower its purchasing power in terms of all other goods and services. Hence the great truth of monetary theory emerges: once a commodity is in sufficient supply to be adopted as money, no further increase in its supply is needed. Any quantity of money is "optimal." Once a money is established, an increase in its supply confers no social benefit. from a recent illuminating Corrigan article: mises.org