View Single Post
Old 02-20-17, 05:12 AM   #38
ikalugin
Ocean Warrior
 
Join Date: Aug 2014
Location: Moscow, Russia
Posts: 3,212
Downloads: 8
Uploads: 0


Default

Quote:
My apology if you got dizzy from the many zeros. Imagine the taste of a leaf of bread costing several million Mark, maybe that helps you to get back your balance.
I mean that is fine, just irrelevant. Because if you are trying to use the German hyperinflation case in the gold vs cash USD model you have introduced above, then those piramids of cash are irrelevant, as they represent local hyperinflating currency and not foreighn (assumed to not be hyperinflating) currency - the USD for example.

Well and you prove us right, because it breaks down to two things - how much value people attribute to a means of exchange (which is subjective) and how convenient it is to use (where paper and more so electronic money win against gold, that 100 USD in cash vs monetary gold example is great, as it shows how inconvenient gold actually is).

The subjective value attribution is the important bit, because if you call that process natural then you view humans as objects rather than subjects and thus deny them agency.
__________________
Grumpy as always.
ikalugin is offline   Reply With Quote