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

[malignd at aol.com]

Read Daniel Yergin's "The Prize."  The history of oil is the shadow history of the entire twentieth century.



-----Original Message-----
From: Paul Mackin <mackin.paul at verizon.net>
To: pynchon-l <pynchon-l at waste.org>
Sent: Wed, Jan 25, 2012 11:11 am
Subject: Re: A recent talking point re-emerges in another light....


              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>        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>                 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.
                
              
              
            
          
        
      
      
    
    
  
 
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