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According to my understanding, the raw materials used to make pennies and nickles are both worth more than their fiat value. If people were to destroy these en masse and sell the materials, would there be wealth created (or better yet, recreated), due to the increase of raw materials and deflation?
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It seems to me that the imposition of the Euro - which was established as a purely fiat money - puts the regression theory in perspective and possibly refutes it. If «nothing can enter into the function of a medium of exchange which was not already previously an economic good to which people assigned...
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Hello Lilburne, Thanks for responding. Let me take a satb as answering your questions: "No. Let's say you borrow that money from me. Over the course of the year, you do work for me for which I offer you a $60 salary. On the last day of the year, I don't pay you the $60 in gold; I just deduct...
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Hi all. I've been slowly working, over the past few months, on what I like to call a "Craig's List for sound money". I think I am finally ready to tell the world about it, though I know many important features are still missing; I need some real users to keep me motivated. I plan to...
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Does Gresham's Law prove that money must have intrinsic value? Great article by Gary North. I didn't know all that about Gresham's Law and foreign exchange. Does it also have a simpler application as explaining domestic circulation? For instance, when arguing with Keynesian/Chicagoites, who...
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I don't know any books on this subject. However there's a mp3 accompanied with a transcript of Joseph R. Peden's lecture "Inflation and the Fall of the Roman Empire," given at the Seminar on Money and Government in Houston, Texas, on October 27, 1984. I've listend to it and...
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How does one buy gold from a gold mining company in economy using gold as money? I expect the buyer must use another type of money such as silver.