Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Not just that - Your monetary base gets vulnerable to technological shocks.

.... actually it is even worse than that. Shock implies surprises, but energy production is predictably going to dee upheavals.  - it is the one sector of the economy guaranteed to experience technological changes. I dont know how we will be producing electrons in 2032, nor what they will cost, and neither does anyone else. -

 I can list half-a-dozen highly plausible optinons for future generation mixes and technologies off the top of my head - some of them are unavoidably moderately more expensive than unmitigated coal, and some of them are ridiculusly cheap. Either of which would completely wreck any currency based off the supply of power. Bad, bad, bad idea.

by Thomas on Fri Jul 20th, 2012 at 06:36:25 PM EST
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some of them are ridiculously cheap.

promises, promises...

just supposing we envision a future ever embroigled in the 'winner-takes-all' zero-sum game we call predatory capitalism, couldn't we make at least it fair?

ie no whining when the wheel turns against you and you bet loses to the house. if your currency breaks on the reefs of reality, then cut your losses and bet on another one.

or go home and bake cookies...

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Fri Jul 20th, 2012 at 07:59:28 PM EST
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