[ExI] The silent PV revolution
avantguardian2020 at yahoo.com
Thu Apr 5 22:58:17 UTC 2012
----- Original Message -----
> From: Mirco Romanato <painlord2k at libero.it>
> To: ExI chat list <extropy-chat at lists.extropy.org>
> Sent: Thursday, April 5, 2012 8:10 AM
> Subject: Re: [ExI] The silent PV revolution
> Il 05/04/2012 16:41, spike ha scritto:
>> Gene what is the end game of that?
> Inflation OR default. Or both.
> The symbiotic, but parasitic is better, relation exist because both of
> them are using fiat money they can and will print.
But last I heard, the Chinese government sets the value of its currency so the U.S. money is fiat and the Chinese money is something else.
> If they stop printing, there would be some equilibrium in the
> import/export. They would only bankrupt the government, the banks (Am I
> repeating myself?) and many others indebted people.
The system we have allows the market to set the relative prices of the world's currencies except for China, North Korea, etc. So make up your mind, is the market good or bad? How would switching to a currency backed by a rare commodity change that except by inflating the price of the commodity and deflating the currency in question? Imagine that China switched to using gold coins tomorrow, how would that affect Italy, Brazil, or the U.S.?
"The state that separates its scholars from its warriors will have its thinking done by cowards, and its fighting by fools." -Thucydides.
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