Ahem A Rivet's Shot wrote:

> That promise is empty, paper money is as much debt as electronic
> money. The value of money (gold included) exists primarily in the belief
> in its value backed by it being the only way to pay taxes.
>

not correct - paper money is in your pocket (or at least you can put it
there) - digital money is not even there.

> The problem with gold as a basis of value is that it doesn't scale
> with the fundamental source of value, which is the activity of people.
> More people means more value in the world but not more gold.

why should be a problem a fraction of gold has more value then a piece of
paper. It means everything would become less expensive and talking about
gold - I guess TNP meant any of gold, silver, platinum and alike.
The currency of the poor was always silver and BTW since the time of
Michelangelo the prices in gold did not change much - the price of gold in
paper money did - in 50y approx. 100 times up - why?
There are many problems related to backing up with gold, but as I said it is
not about gold but any value.

--- SoupGate-Win32 v1.05