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vox kadavergehorsamkeit
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has posted a comment on the article :
Copernicus, Galileo and Gold. Part II
- Hugo Salinas Price -
Plata.com
"But that is precisely why gold is good at being money, it places a constraint on misuse that is not easy to overcome."
It has always been easy as pie to overcome. You cannot point to even a single example passim recorded history when it was not overcome.
"As for failures... yes gold has "dropped the ball" once or twice in human history...."
No Dom, gold has proved a failure each and every single time it has been used to represent money. There are no exceptions that you can point to because none exist. If there was even one such example, then gold would still be used in that location. After all, nations act in their own self interest and it is absurd to believe that a nation would willingly abandon their monetary system when it was working so very well for them.
Your notion that the failures of gold in the past had only to do with locality in no way disproves my point. Indeed, it underlines the second point i made; when gold did not fail because of government action, it got wrecked because of a sharp fluctuation in its market value. That there are many hundreds of times more gold just waiting to be recovered from the oceans and below them than has been mined throughout human history makes a mockery of your argument. And that says nothing of asteroid mining that will begin to happen in our life time.
In your example of Spain, prices did not merely double over several hundred years as you claimed. During the 42 years that Phillip II sat on the throne, prices rose 500%. In the 42 years since Nixon took America off the gold standard, prices have risen by a very similar amount. So there is no order of magnitude difference that you have claimed there to be.
Penultimately, there is no structural reason why a fiat currency requires inflation to work. It does not. That governments abuse the printing press does not mean that they must. If they would only live within their means, there would be no reason to print. That is what it always comes down to. If the currency is to survive, regardless of what it is, government must be constrained.
And lastly, a paper money regime is superior to a gold standard. Yes, both are subject to failure due to the misdeeds of government. But only gold is subject to sharp fluctuations in its value as a result of physical supply dynamics....Last year a planet twice the size of earth was discovered. It is a giant diamond. Why should we blithely assume that a three trillion ton asteroid made entirely of gold will not be discovered and brought back to earth?
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Beginning of the headline :
The development of Economics and the development of Astronomy share interesting parallels. Aristarchus of Samos – the Greek island that produced Pythagoras – was born in 310 B.C. Aristarchus set Astronomy on the path that would have led to its correct development by postulating the Sun as the center of the Universe, with the Earth revolving around the Sun while revolving around its own axis; he also set the planets in the correct order of their distance from the Sun. Unfortunately, the preconcei...
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chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
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ferzi
- 20/04/2013 à 20:03 GMT
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