[OT] Ameros will clog the tubes - was Re: Network Neutrality
dcrookston at gmail.com
Thu Dec 4 12:59:40 MST 2008
On Thu, Dec 4, 2008 at 2:56 PM, Michael Torrie <torriem at gmail.com> wrote:
> This is fascinating in light of what you have said about how gold would
> work as an economy grows. Since the answer to the keynsian argument
> that there's only so much gold to go around lies in the idea of
> arbitrarily dividing the gold, then in reality, having gold-backed
> currency is no different than using leaves for currency. While there
> are not an infinite number of atoms of gold, there probably are at least
> as many as leaves in a forest... And it solves none of the problems of
> fiat currency since the division of gold is arbitrary and artificial.
> No wonder they threw it out back in the day.
It also doesn't solve the problem of inflation* because a gold-backed
dollar (assumed to represent one "division" of gold) would still
become worth less and less as the standard division of gold became
smaller and smaller.
* as I understand it
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