Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site proper.UUCP Path: utzoo!watmath!clyde!floyd!harpo!seismo!hao!hplabs!hpda!fortune!amd70!dual!proper!gam From: gam@proper.UUCP (Gordon Moffett) Newsgroups: net.legal Subject: Re: Re: Paid in Dollars? Message-ID: <1058@proper.UUCP> Date: Tue, 6-Mar-84 22:13:08 EST Article-I.D.: proper.1058 Posted: Tue Mar 6 22:13:08 1984 Date-Received: Fri, 9-Mar-84 01:12:01 EST References: <250@teldata.UUCP> Organization: Proper UNIX, San Leandro, CA Lines: 30 > From: shad@teldata.UUCP (Warren N. Shadwick) > It has been truly stated that if we do not learn from history we > are destined to re-live it. The German Mark at the close of WWI > is another example of an unbacked money system failing. Reports > contend that it took a wheelbarrow full of Marks to buy a loaf of > bread. And it was cheaper to wall paper rooms with the > "renewable" currency than to buy wall paper with it. Oh, if you think PAPER money is bad, guess what you're REALLY getting paid in? Itty-bitty electrical charges on computer disks of financial institutions! What a dreadfully transient thing for an economy to be based on! Indeed, if you understood why the old German Mark failed, you would understand that it is not paper money that is the danger, but foolish management of a country's currency (in addition to the historical perspective of Germany being forced to pay more in reparations that realistically could've). Obviously paper money works, our whole economy is based on just that. Does that mean that someday our paper dollars will be worthless? Probably. Nothing lasts forever. So by all means I encourage you to learn from history. Learning a bit about economics wouldn't hurt either. > "Ignorance is Bliss" -- George Orwell, "1984". (And learn more about literature, too.)