On 2020-10-21, The Natural Philosopher  wrote:

> On 20/10/2020 22:50, Ahem A Rivet's Shot wrote:
>
>> On Tue, 20 Oct 2020 21:57:50 +0200
>> Deloptes  wrote:
>>
>>> There are many problems related to backing up with gold, but as I said
>>> it is not about gold but any value.
>>
>>  Right but the principle source of value is not rare metals it is
>> human activity. Using rare metals does not scale naturally to the real
>> source of value.
>>
> That is not the point. Gold can not be multiplied infinitely. Paper
> money can. It needn't be gold. Cowrie shells will do.
>
> That there isn't enough gold is easily solved - make it more valuable.
>
> The technical need is for a mutually agreed  proxy for value that is
> relatively indestructible and cannot be manufactured infinitely.

    Oh, the outlook will be sunny
    In this land of milk and honey
    When we print up lots of money:
    That's the Social Credit plan.

    But in case that starts inflation
    And it might affect the nation,
    Why we'll print another billion
    Just as quickly as we can!

      -- The Brothers In Law: Vote for Me

--
/~\  Charlie Gibbs                  |  "Some of you may die,
\ /        |  but it's sacrifice
 X   I'm really at ac.dekanfrus     |  I'm willing to make."
/ \  if you read it the right way.  |    -- Lord Farquaad (Shrek)

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