[meteorite-list] Emil Cohen's Market Trends of 1899 - Cohen'sremarks & pl...

[MexicoDoug at aol.com]

En un mensaje con fecha 04/14/2005 1:14:19 AM Mexico Daylight Time,  
mlblood at cox.net escribe:

>I would add that
>ALL currency is "monopoly money" with  absolutely no value, 
>whatsoever, except as agreed upon by its users.

Which gets us back to another very important point, "The VALUE of any  
particular good is what a given person at a given moment by their free will GIVE  in 
exchange for certain recognized rights over it."  Such as the right to  be 
buried with it.  That would seem to make sense.  Perhaps if instead  of using 
artificially imposed standards such as gold, we can turn to factoring  in 
purchasing power parity across nations and time and view the world in terms  of Big 
Macs.  The Financial Times has had a great deal of luck explaining  such deep 
concepts in terms of Big Macs rather than money.   It also  goes a long way 
explaining why meteorites tend to flow to "developed" world  countries in 
exchange for Big Macs.  Of if you don't like big Macs, gold,  or Uncle Sam's 
obligations, a meteorite standard would do just as well.   The world has certainly 
come a long way.  From international traders using  the Spanish Dollar as a 
standard in the 1600's, to the Mexican Allende meteorite  today...And it is true 
that a gram of Allende doesn't stretch as far as it used  to...
Saludos