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Old 03-03-14, 12:44 PM   #4
MH
Ocean Warrior
 
Join Date: Jul 2008
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The Chinese were the first to try a paper money system, I think in the 12th century. It collapsed. And since then, ALL paper money system tried in any part of the world have collapsed. The inflation of paper money is nothing else than what ancient kins did when they reduced the amount of precious metals in their gold and silver thalers, and replaced them with inferior iron, to increase the amount of thalers and give the illusion of having more wealth that they then spend. It is betrayal, theft, and always it is snowballing.
So how economy with relatively fixed amount of gold can deal with growing wealth.?
...after all people create wealth as well.
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