Howdy Harry,
In today's world, the scale of size prohibits using coin only as a medium of
exchange. As the population and the economies of the world continued to
expand, the coin was replaced with the paper buck ..and from there.. the
bank check.. to line of credit.. to stock shares.. to sophisicated financial
instruments like derivatives. The world economy now requires some 150
trillion in derivatives in order for the economies to function.
At some point an economist realizes that deficits no longer matter in the
major nations simply because they cannot be allowed to collapse. The
collapse of an economy the size of China that would cause 1/2 billion
people to become jobless, can take years off one's life, and make for some
very bad neighbors as you listen to their children starve. Sooo.. it is NOT
allowed to happen in a civilized world.
So the task is not to stabiliize the international economies.. it's trying
to civilize some very dangerous people from lighting matches in the dark.
It's everybody's job or everybody goes .. POOF!!.
Meanwhile back at the ranch..if we can just keep the bartender at the Dime
Box Saloon from watering the drinks....
Richard
Harry wrote,
I am not hysterically anti-FED, like some money-cranks.
However, I do think people and their respective nations
should have the legal option to mint money independent
of central banks and bankers, in a thoughtful
and regulated way.
