Thus said Michael Torrie on Thu, 04 Dec 2008 12:56:34 MST: > And it solves none of the problems of fiat currency since the division > of gold is arbitrary and artificial.
I believe you've missed the point regarding the division of gold. Dividing up gold into smaller units does not in any way produce more of it. And in no way is it arbitrary or artificial, it is a natural process in response to price of money in response to the supply and demand for money. Also, need it be said that money generally can be divided up without losing value. Hence, its possible to cut gold up into 100 pieces, yet still retain its purchasing power. > No wonder they threw it out back in the day. Who is they? It most certainly wasn't something that ``We the People'' were lobbying for. Like many of the policies that came out of that era. Andy -- [-----------[system uptime]--------------------------------------------] 10:25pm up 4:25, 2 users, load average: 1.06, 1.14, 1.13 /* PLUG: http://plug.org, #utah on irc.freenode.net Unsubscribe: http://plug.org/mailman/options/plug Don't fear the penguin. */
