Thus said Nicholas Leippe on Fri, 05 Dec 2008 08:19:46 MST: > I disagree. I think silver is better as a money than gold for > precisely the same reason--it is far less scarse than gold.
Both are good for money because they both meet all the requirements. As a store of value (one property of good money) gold is much more stable. Just look at the difference in volatility in their trend charts. > The scarcer a currency is, the easier it is to monopolise which > reduces it's utility as a currency and causes poverty. I'm not really sure what this has to do with an economic analysis of what makes good money. Perhaps you are referring to ``hoarding?'' http://www.mises.org/money/2s9.asp > The industrial use of any substance is based far more upon the > physical properties of matter than the supply. If the price of silver was $1000/oz, would that not restrict which industrial uses silver would be found in? Andy -- [-----------[system uptime]--------------------------------------------] 8:48pm up 20 min, 1 user, load average: 1.07, 1.24, 0.96 /* PLUG: http://plug.org, #utah on irc.freenode.net Unsubscribe: http://plug.org/mailman/options/plug Don't fear the penguin. */
