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[Pen-l] Re: Gold money is fiat money too.
- To: pen-l <pen-l@xxxxxxxxxxxxxxxxxx>
- Subject: [Pen-l] Re: Gold money is fiat money too.
- From: Sabri Oncu <sabri.oncu@xxxxxxxxx>
- Date: Thu, 29 Jan 2009 23:47:12 -0500
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Jim:
> gold money isn't fiat, though it usually involves some role for the
> state (i.e., certifying that coins are pure gold, etc.) Gold money is
> money because it's naturally scarce ...
Not at all, Jim! Gold is not scarce. Gold is infinitely divisible.
Best,
Sabri
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