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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (53709)	2/13/2006 1:25:07 PM
From: gpowell	Respond to of 110194

Competing currencies can be exchanged in any number of competing markets, just as foreign currency exchange is handled today. Yes, that is exactly what I implied. While you have convinced yourself that a monopoly is required, there is no basis for this. Not required, maybe not even likely, but certainly would not be unanticipated. Let’s just be clear that a monopoly clearinghouse does not equal, or imply, the Federal Reserve. Excess currency and credit creation is reflected in the market price of each currency relative to other currencies. No monopoly clearing-house is required. That is very correct. Although a clearinghouse is simply one more mechanism for exchange rate information to be developed. But the potential for excess credit creation is one of the reasons why precious metal money is preferred in situations where there are multiple currencies. You are correct.