> Don't worry, I remember your major points: > > - an economy cannot function effectively without using fiat tokens. > > - using gold alone would hamper an economy because people would not > invest enough. > > - it is important to pump up the money supply to force people to invest. > > > I think these are false.
Patrick, False indeed. These are not my points , but what you have made of them.. No blame on you. When one is not understood there are four possibilities: 1) One has it wrong 2) One fails to express it clear enough 3) The other simply doesn't get it 4) The other doesn't want to get it. Case 1 or 2, I have done what I could. Case 3 or 4, that is none of my business. Re: the purpose of saving This Von Miser seems to agree with me. Only a different use of words. What he calls 'saving', I call 'investing'. These capital goods are not created when people put money in a vault. Capital goods are created when this money is SPENT on capital goods. It is unfortunate he (and other economists) use the word 'saving' in this context. But the capital goods (which are the foundation of civilization, as he says), are only created when money is 'spent' on them. Nobody thinks he is 'saving' when he goes to the shop to buy a computer, or a truck, or whatever tools,... So, this Von Mises is using the word 'saving' , while he is actually singing the blues about 'capital spending', and the benefits it has. The sad result of this wording is that people believe it is good when they 'save' money. It is good when people spend their 'extra money' on new capital goods. Because that lays the foundation for increased future prosperity. It is not so good when people save their 'extra money' in a vault. Danny --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
