[12938] in Cypherpunks
RE: The American money capture
daemon@ATHENA.MIT.EDU (Sandy Sandfort)
Tue May 3 12:24:22 1994
Date: Tue, 3 May 1994 08:58:06 -0700 (PDT)
From: Sandy Sandfort <sandfort@crl.com>
To: Wayne Q Jones <qjones@infi.net>
Cc: Blanc Weber <blancw@microsoft.com>, cypherpunks@toad.com
In-Reply-To: <Pine.3.89.9405022329.A25680-0100000@larry>
C'punks,
On Mon, 2 May 1994, Wayne Q Jones wrote:
> The money supply dwindled 1: by the accumulation of capital in the hands
> of a few 2: the immediate fiscal policy of the govt which also sucked money
> out of the economy....
Wrong. Wayne's "1:" explanation is pure Scrooge McDuck thinking. The
"few" do not "accumulate" capital in the sense Wayne fears (i.e., in
Scrooge McDuck's undergroung vault). They collect it, spend it, invest
it, deposit it in the bank, whatever; but it still keeps circulating. If
anything, such activity expands the money supply.
I'm not sure I (nor Wayne) know what he actually meant by his #"2:"
assertion. Perhaps he will elucidate.
S a n d y
