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To: DMaA who wrote (20654)3/16/2012 3:05:51 PM
From: Maurice Winn of 23363
 
In a free market for money, the price, called the interest rate, rises until demand is satisfied. No more money is needed: <
In a market rising prices signal producers to produce more until the equilibrium is restored > The price is the interest rate. If the interest rate is too high, people won't borrow.

Using gold as an example of money, if people want to borrow a lot of it, and are willing to pay high interest rates, nobody needs to dig any more of it. Just put the interest rate up. I am not suggesting gold is good to use as money. It's not. Bitcoin is a bit more like what I'm thinking of, but they have it wrong. There is no need for a government to be involved at all, other than to rob people who have money.

Mqurice
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