A recent talking point re-emerges in another light....

[Paul Mackin]

On 1/25/2012 3:28 PM, Alex Colter wrote:
> Would it be fair to say all money must be back'd by Energy?

Only problem I can see is someone would start manipulating the e=mc2 
formulation and thereby unduly stimulate the world wide 
economy--something akin to the effect of the California gold strike in 1849.

P
>
> On Wed, Jan 25, 2012 at 1:58 PM, Paul Mackin <mackin.paul at verizon.net 
> <mailto:mackin.paul at verizon.net>> wrote:
>
>     On 1/25/2012 12:42 PM, David Morris wrote:
>
>         http://www.trutv.com/conspiracy/government/ron-paul/gallery.html?curPhoto=11
>
>         The New World Order
>
>         "[Is there] an international conspiracy to overthrow our
>         government?"
>         Paul said in 2003, repeating the question of an audience
>         member at his
>         Austin speech. "The answer is 'Yes'. I think there are 25,000
>         individuals that have used offices of powers, and they are in our
>         Universities and they are in our Congresses, and they believe
>         in One
>         World Government. And if you believe in One World Government,
>         then you
>         are talking about undermining National Sovereignty and you are
>         talking
>         about setting up something that you could well call a
>         dictatorship -
>         and those plans are there!"
>
>         Ron Paul's call for a return to the Gold Standard are clear
>         proof that
>         he's w/o a clue about economics and monetary dynamics.  But
>         neither do
>         most people...
>
>
>
>
>     Hey, I got an idea.  Why doesn't the Fed just SAY it has enough
>     gold buried somewhere to "back" all the money it creates.  Of
>     course, the public would have to take this on faith.  It wouldn't
>     be possible to actually count or weigh this much gold.  So in the
>     end the value of money depends on trust.  Like so much else in
>     this world.
>
>     Approached from another angle, is there enough gold in the world,
>     above or below, ground to "back" but a tiny fraction of the money
>     supply?  Any kind of conceivable "gold standard" would just add an
>     unnecessary, though minor,  complication to something that is
>     complicated enough already.
>
>      Saying all money must be backed by gold  is kind of like saying
>     that all books have to be printed on paper.
>
>     Good-bye Kindle.
>
>
>     P
>
>
>
>
>
>         On Wed, Jan 25, 2012 at 11:03 AM, Paul
>         Mackin<mackin.paul at verizon.net
>         <mailto:mackin.paul at verizon.net>>  wrote:
>
>             It's my impression that spinners of this particular
>             conspiracy theory,  espoused by Ron Paul and others, don't
>             really understand how money and banking work, or of
>             American economic history.
>
>
>

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://waste.org/pipermail/pynchon-l/attachments/20120125/ed79e213/attachment.html>