Re: Fw: [gang8] Cartalism

[Gunnar Tómasson <gunnar.tomasson@xxxxxxxxxxx>]

James:

Another set of questions ought to yield equally illuminating answers:

Here is a dollar.  Is it "weak money," or is it "High-Powered Money?"

My employer.... etc.


As for "inherent bias", it is not readily apparent how the transformation of
medieval "monnaie faible" into the "High-Powered Money" of modern academic
discourse served to correct "bias" in - rather than impart "bias" to -
monetary terminology.

If the former, then the further transformation of Government DEBT in the
form of "High-Powered Money" into Government CREDIT would deliver the coup
de grace to the medieval legacy of "inherent bias".

Gunnar


----- Original Message -----
From: "James R. Olson, jr." <jhavok@xxxxxxxx>
To: <pkt@xxxxxxxxxxxxxxxx>; <pkt@xxxxxxxxxxxxxxxx>
Cc: "Gang8" <gang8@xxxxxxxxxxxxxxx>
Sent: Tuesday, September 23, 2003 11:05 PM
Subject: Re: Fw: [gang8] Cartalism


> Here is a dollar.  Is it "weak money," or is it "strong money?"
>
> My employer writes me a check for my services.  Is it "weak money," or
> "strong money?"
>
> I have worked for 40 hours, and my  employer will pay me for that in one
> week.  Is that "weak money," or "strong money," or is it money at all?
>
> I just charged my meal on my credit card.  Is that "weak money," or
"strong
> money?"
>
> I just charged my groceries on my debit card.  Is that "weak money," or
> "strong money?"
>
> I think the answers to those questions ought to be illuminating.
>
> I also think the terms "weak" and "strong" betray an inherent bias in the
> analysis, but that is neither here nor there.
>
> At 06:34 PM 9/23/03 -0400, Gunnar Tómasson wrote:
> >Geoffrey Gardiner posted the following to Gang8:
> > 1. There are basically two kinds of
> >money, money derived  from businessmens' debts, "strong money," and money
> >derived from state debts  "weak money.".
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