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

To: Hugh A who wrote (34075)	5/21/2003 4:17:49 AM
From: Maurice Winn	Read Replies (3) \| Respond to of 74559

Hi HA! <Gold currencies were debased by adding more and more silver or base metal. Paper currencies are debased by adding more and more paper. Is there really any difference? > No, not when you put it like that. But there is a big difference between gold as money and pixelated promises. The difference is that anyone can dig or filter more gold, thereby diluting the money base if the price of gold is hugely above the production cost, which it would need to be if gold was the world's money supply, but only the person with the PIN could pixelate more promises. The weakness of the pixelated promise is that it depends on collective political entities = governments and their mob ruled electorates, which are notoriously volatile, ignorant and self-destructive. Mqurice