From: Bill Stewart <stewarts@ix.netcom.com>
Date: Sat, 27 Jan 1996 17:01:10 +0800
To: cypherpunks@toad.com
Subject: Re: [NOISE] Re: "Gentlemen do not read each other's bank statements"
Message-ID: <199601270825.AAA05579@ix2.ix.netcom.com>
MIME-Version: 1.0
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>> > The high cost of WW II made it a necessity for the gvm't to have more 
>> > money at a particular moment, and not wait for year-end.
>>     Not so. Govt has been able to print fiat money at will since the Fed 
>> Reserve was founded in 1913.

The phrase "not worth a Continental" dates to several wars before that,
and several governments of East-coast North America as well.

tenuous-at-best connection to cypherpunks material - using a currency
backed only by the supply of ones and zeroes requires a market mechanism
to encourage the issuers not to overdo it....
#--
#				Thanks;  Bill
# Bill Stewart, stewarts@ix.netcom.com, Pager/Voicemail 1-408-787-1281
#
# "Eternal vigilance is the price of liberty" used to mean us watching
# the government, not the other way around....