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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (21445)	7/19/2002 4:26:41 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

DAK, yes, dilution reduces the value of previously printed money, but my point was that the creation of money, using a few penstrokes and trust in the creator of the currency, is enormously valuable and that it's a heck of a lot easier than digging up gold and storing it. Because demand for US$ continues to grow, Uncle Al can print more, which creates more value and being the controller of the currency, he can capture that value for the owners of the currency. If he didn't print any more, there would be massive deflation as more and more goods and people chased the same number of dollars. The fact that pixels and software and hardware are almost zero cost is only slowly percolating through people's understanding. The implications for people are enormous. The telecosmic black hole and cyberspace shrivelling to a faint shadow of its past has misled people into thinking it was all a big mistake and that it's all gone away. It hasn't. Major paradigm shift is happening. Mqurice