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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (93279)	11/27/2001 4:11:13 PM
From: Bilow	Read Replies (3) \| Respond to of 132070

Hi Knighty Tin; Obviously gold is insufficiently stable, and too easily mined to be used as a standard of wealth. Here's my short list of requirements for a monetary standard: (1) It should be present all over the world, so no one can easily monopolize the manufacture. (2) It should be proportional to the population, so that as the world grows the monetary supply remains constant. (3) It should require difficulty in manufacturing and it should be something that people hold valuable even outside of its monetary use. (4) It shouldn't have any major use other than as a monetary standard. Otherwise we end up perverting our economy by not using it where it's needed. This is a pretty difficult set of requirements to meet. My suggestion is that we return to a monetary standard using first born sons. -- Carl

To: Knighty Tin who wrote (93279)	11/27/2001 5:16:45 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

KT - Don, I have a problem with the idea that gold supply is fixed. Mining technology has improved since the days of the gold standard. Also, there was lots of inflation in 16th century Spain because of the gold standard. Gold was money then, so it was monetary inflation. Finding a big mother lode could cause inflation under a gold standard. And, what are the odds one of the billions of planets up there is made of gold? <G> Nothing there to argue with, except gold would probably still be better than green cheese, among other alternatives. -g- Regards, Don