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1993-10-21 - Re: Gold in them thar Bills…

Header Data

From: Alexander Reynolds <chrome@jhunix.hcf.jhu.edu>
To: “Timothy C. May” <tcmay@netcom.com>
Message Hash: 5271fd6a57e926cb0a93943e61d30a35507d38744f1707a6a1b26888be6540d6
Message ID: <Pine.3.05.9310211503.A2512-a100000@jhunix.hcf.jhu.edu>
Reply To: <9310211817.AA06108@netcom5.netcom.com>
UTC Datetime: 1993-10-21 19:38:07 UTC
Raw Date: Thu, 21 Oct 93 12:38:07 PDT

Raw message

From: Alexander Reynolds <chrome@jhunix.hcf.jhu.edu>
Date: Thu, 21 Oct 93 12:38:07 PDT
To: "Timothy C. May" <tcmay@netcom.com>
Subject: Re: Gold in them thar Bills...
In-Reply-To: <9310211817.AA06108@netcom5.netcom.com>
Message-ID: <Pine.3.05.9310211503.A2512-a100000@jhunix.hcf.jhu.edu>
MIME-Version: 1.0
Content-Type: text/plain


> Be this as it may, electronic money depends on _reputation_, on the
> expectation that a depositor or payee will get what he thinks he will,
> whether in gold, in dollars, in francs, in Safeway discount coupons,
> or in Get Out of Jail Free cards.

	Since the topic of backing seems to go towards gold, what about
the purity of the bullion and who (which government) presses it?  Gold
pressed by the Canadian government at .999 troy oz might not be worth a
whole lot as backing if that government collapses tommorow. 
What's to say it isn't iron pyrite or any similar looking
material if the government isn't there to back it?  Anything to say on this,
Perry?  

-Alex Reynolds

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