Message:

<p>[QUOTE=&quot;medoraman, post: 1250633, member: 26302&quot;]Ok, lets just talk about this. Three men, label them A, B, and C, each have an asset. There is only $1 worth of gold in the whole world, and that is the only currency. Man A trades the gold to man B for a goat. Man B trades the gold to man C for some chickens. Man C trades the gold to man A for some wheat. What is the cumulative value of all three items? You say its $1, I say its $3, since each was fairly traded at a $1 value. The $1 can be passed around forever, valuing the transaction each time. </p><p><br /></p><p>That is about as clear as I am capable of explaining it. EVEN IF gold is the only money in the world, the world&#039;s assets are multiple times the value of all of the gold in the world. Money, (even if only gold), just allows an ease of the exchange, it NEVER limits cumulative wealth.</p><p><br /></p><p>The exact same situation happens even WITHOUT money, if they all agreed that each item was worth a $1 of gold, and bartered them. Same exact result, and same exact wealth, even without money. the money simply made the bartering easier.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in