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Re: [PLUG] Interesting thread on SEUL-EDU mailing list...
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| Ah, fiat currency. Way more convenient to convert the masses into corporate
| slaves by that mechanism. What you could buy for 4 cents in 1912 now costs one
| dollar. That's more "stable" than gold backed currency only if you believe
| that a 25 times loss in value over a century is "stable". Oh, and it's lead to
| the most expensive government in the history of the world.
no, it is stable because inflation has been consistent and predictable.
I know that next year cheesy-poofs will cost approximately 3% more.
the value of a dollar in 1929 was about the same as it was in 1800, but in
between the value fluctuated wildly (double-digit inflations, and double-
digit deflations).
I would certainly call "now currency" much more "stable" than "then currency".
| Gold is, and always was, a manipulated commodity. But unlike the German mark
| of the 1920's and other fiat currencies, it never reaches zero value. On the
| other hand, fiat currency is, by definition, a manipulated "non-commodity"that
| _must_ reach zero value if it's inflated continuously. (Predictions redacted).
except that gold is just as much a fiat currency as our dollars are today.
it has no (significant) intrinsic value, its value is derived from people
having faith in its usefulness in transferring wealth, just like our
paper money.
--jeff
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