[48255] in Cypherpunks
Re: [NOISE] Re: "Gentlemen do not read each other's bank
daemon@ATHENA.MIT.EDU (Bill Stewart)
Sat Jan 27 03:29:07 1996
Date: Sat, 27 Jan 1996 00:25:36 -0800
To: cypherpunks@toad.com
From: Bill Stewart <stewarts@ix.netcom.com>
>> > The high cost of WW II made it a necessity for the gvm't to have more
>> > money at a particular moment, and not wait for year-end.
>> Not so. Govt has been able to print fiat money at will since the Fed
>> Reserve was founded in 1913.
The phrase "not worth a Continental" dates to several wars before that,
and several governments of East-coast North America as well.
tenuous-at-best connection to cypherpunks material - using a currency
backed only by the supply of ones and zeroes requires a market mechanism
to encourage the issuers not to overdo it....
#--
# Thanks; Bill
# Bill Stewart, stewarts@ix.netcom.com, Pager/Voicemail 1-408-787-1281
#
# "Eternal vigilance is the price of liberty" used to mean us watching
# the government, not the other way around....
