Mexico may remonetize silver

http://home.businesswire.com/portal/... 9&newsLang=en

Better silver than paper; but it will never happen. Some journalist
just needed to fill a couple of column inches before putting that daily
issue to bed.

oly

stonej wrote:

http://home.businesswire.com/portal/... 9&newsLang=en

Better silver than paper; but it will never happen. Some journalist
just needed to fill a couple of column inches before putting that daily
issue to bed.

oly

stonej wrote:

http://home.businesswire.com/portal/... 9&newsLang=en

oly wrote:
Better silver than paper; but it will never happen. Some journalist
just needed to fill a couple of column inches before putting that
daily
issue to bed.

oly

stonej wrote:


http://home.businesswire.com/portal/... 9&newsLang=en

Just like the Islamic gold dinar was going to shake up the world
monetary system.

There is just no problem solved by backing your money with gold or
silver that does not create even worse problems.

Hey, I'm in favor of a silver based circulating or convertible
currency; but Mexico is too corrupt for that to ever happen there.

I think that you may be blaming precious metals for something that has
been inherently wrong with money since the Greeks invented the concept.
Regardless of whether or not money is commodity based, or token, or
fiat, something in human nature will always ultimately defeat money's
function as "a store of value". We want money to be something that it
cannot be because people are what they are.

oly

On 20 Dec 2004 09:05:20 -0800, oly wrote:

Hey, I'm in favor of a silver based circulating or convertible
currency; but Mexico is too corrupt for that to ever happen there.

I think that you may be blaming precious metals for something that has
been inherently wrong with money since the Greeks invented the concept.
Regardless of whether or not money is commodity based, or token, or
fiat, something in human nature will always ultimately defeat money's
function as "a store of value". We want money to be something that it
cannot be because people are what they are.

oly

Isn't money a store of value? Sure it's mutable over time, but isn't that
good? The problem with commodity backed money is that it discouraged
investment. If you $1 is the worth the same today and next year why risk
it? Fiat money allows economies more leverage, more investment, more
growth. Would the economy have grown in the 80's and 90's if the dollar
was still tied to gold?