Michael- I forwarded your post to Randy Wray, since he talked about those stones in a recent paper. His reply: >japanese debt has 2 sides, an asset and a liability. the stones are only an asset. >actually, of course, the stones aren't money at all. it is only when the >germans tax them (removing symbolic wealth) that they have any "moneyness". I think I have a copy of his paper if you're interested. michael perelman wrote: > I want to ask a question about Japanese debt by beginning with some > notes that I have taken: <snip> > Now, my naive question: How is the revelation of the $1 billion in > Japanese debt different from the sinking of the Uap's fei? > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail [EMAIL PROTECTED]
