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CmdrTobs (November 30, 1999 at 12:00 am)
@publicanimal Agreed. Just to cover the known amount of dollars in circulation gold would have to be valued upwards many fold and that assumes everyone from outside the united states will give up their gold freely for this American currency experiment.
NicosMind (November 30, 1999 at 12:00 am)
@Malthus0 Cheers Mathus, ill get right on that :)
Malthus0 (November 30, 1999 at 12:00 am)
@NicosMind That is more of a textbook on price theory. I understand why you could not find it, The stuff saved over at the IEA does not come up on search engines well. I will send you a PA with the URL
NicosMind (November 30, 1999 at 12:00 am)
@Malthus0 Hey Malthus how are you? I tried searching for that Israel Kirzner article but couldnt find it. What i did find was "Market Theory and the Price System". Would this be the same thing?
Frumibandersnatch (November 30, 1999 at 12:00 am)
@publicanimal And you could get a loin cloth just by picking throught garbage but I wouldn't wear it to a job interview. In any case that goodwill suit would cost about 30 grains of gold.
publicanimal (November 30, 1999 at 12:00 am)
@Frumibandersnatch ...unless you shop @ Goodwill
Frumibandersnatch (November 30, 1999 at 12:00 am)
@publicanimal I can tell you that you wont get a very good suit for twenty bucks.
publicanimal (November 30, 1999 at 12:00 am)
@Frumibandersnatch Are suits really comparable today as to suits in the mid 19th century? Are suits still equally valued? Is your statistic not just pulled out of thin air? It's a kinetic world. You are making the same tired argument that gold has an unchanging "intrinsic" value, which is patently absurd and patently false.
Frumibandersnatch (November 30, 1999 at 12:00 am)
@publicanimal re:negate the misguided idea that gold's value is stable and unchanging, because that's a patently false notion.Well sort of, a one Oz coin in the mid 19th century was worth about $20 and would buy a nice new suit. A one Oz coin today is worth about $1200 and would buy a comparable new suit. What has changed but the value of the dollar that we are evaluating the gold in? In real terms the actual value of the gold has changed little compared to the value of the dollar.
publicanimal (November 30, 1999 at 12:00 am)
@Frumibandersnatch Agreed. I was just trying to negate the misguided idea that gold's value is stable and unchanging, because that's a patently false notion. |
