Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
If not, then I'm wasting my time engaging with you at all.

no chris, you are not wasting your time...

what's the underlying fear here?

that the tying of currencies to gold and it's inability to mesh with modern economies has anything to teach us about tying currency to energy units?

you can't magic up gold mines, its rarity gives it value, when the vein runs out or becomes uneconomical it's game over.

with energy we can keep opening the vein deeper and wider so we will never run out, so that brings us to the initial core question... if gold were as common as sand it would not be useful as a currency value indicator, so is this the fear with energy?

mig speaks of cornering markets, how could you do that with energy units unless you monopolised the means of producing it? (like central banks have with money and finance (the idea of money))

they'd love to do that of course, that's what rentier do after all, it's their raison d'etre, and governments pretend to be for the 99% but are patently not, as so graphically shown by the numbers mig quoted for 10's of millions of euros fine for having the temerity to remove one's solar panels from the grid in spain.

the number was so obscenely OTT it really showed the true majesty of megalomania these loons are prey to.

that fine is their petticoat showing...

'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 Sun Sep 8th, 2013 at 05:52:07 AM EST
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