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1996-04-11 - Money supply is fake anyway

Header Data

From: Thomas Grant Edwards <tedwards@Glue.umd.edu>
To: cypherpunks@toad.com
Message Hash: bfd2ccc9db3959fba4764ed0ab05532c39e2ab09bff446be689a7fc6ed435c2a
Message ID: <Pine.SUN.3.91.960410202317.1705C-100000@kolo.isr.umd.edu>
Reply To: N/A
UTC Datetime: 1996-04-11 13:43:10 UTC
Raw Date: Thu, 11 Apr 1996 21:43:10 +0800

Raw message

From: Thomas Grant Edwards <tedwards@Glue.umd.edu>
Date: Thu, 11 Apr 1996 21:43:10 +0800
To: cypherpunks@toad.com
Subject: Money supply is fake anyway
Message-ID: <Pine.SUN.3.91.960410202317.1705C-100000@kolo.isr.umd.edu>
MIME-Version: 1.0
Content-Type: text/plain



>   Garfinkel described it like this: "My name is Agent
>   Jenkins. I'm an investigator with the secret service,
>   working on a counterfeiting case. And it's tough. Last
>   year, my office got a priority call from an economist at
>   Stanford. The economist was looking at something called the
>   money supply and velocity and both were increasing a little
>   too fast. They just didn't add up. The economist finally
>   figured an organisation was printing its own electronic
>   money -- just like the US government does.

Banks "invent" money on a daily basis.  You would have to counterfeit a 
great deal of currency (probably more than it out there right not) before 
you would start making a serious impact on the money supply. 

That said, enough counterfeit money may change the way people value 
money, and may cause inflation.

-Thomas

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