[meteorite-list] Emil Cohen's Market Trends of 1899 - Cohen'sremarks & pl...

From: MexicoDoug_at_aol.com <MexicoDoug_at_meteoritecentral.com>
Date: Thu Apr 14 02:52:22 2005
Message-ID: <19e.31550a6b.2f8f6cff_at_aol.com>

En un mensaje con fecha 04/14/2005 1:14:19 AM Mexico Daylight Time,
mlblood_at_cox.net escribe:

>I would add that
>ALL currency is "monopoly money" with absolutely no value,
>whatsoever, except as agreed upon by its users.

Which gets us back to another very important point, "The VALUE of any
particular good is what a given person at a given moment by their free will GIVE in
exchange for certain recognized rights over it." Such as the right to be
buried with it. That would seem to make sense. Perhaps if instead of using
artificially imposed standards such as gold, we can turn to factoring in
purchasing power parity across nations and time and view the world in terms of Big
Macs. The Financial Times has had a great deal of luck explaining such deep
concepts in terms of Big Macs rather than money. It also goes a long way
explaining why meteorites tend to flow to "developed" world countries in
exchange for Big Macs. Of if you don't like big Macs, gold, or Uncle Sam's
obligations, a meteorite standard would do just as well. The world has certainly
come a long way. From international traders using the Spanish Dollar as a
standard in the 1600's, to the Mexican Allende meteorite today...And it is true
that a gram of Allende doesn't stretch as far as it used to...
Saludos
 
Received on Thu 14 Apr 2005 02:51:43 AM PDT