Archived posting to the Leica Users Group, 2012/10/15
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Nixon did that, in 1971. Up till then we were on the gold standard, gold at $35 per ounce. On Oct 15, 2012, at 11:12 AM, FRANK DERNIE <frank.dernie at btinternet.com> wrote: > Originally cash -was- gold and its value was fixed. Whoever let the two > deviate effectively gave up the original true function of money. Now it is > just a gambling chit. > FD > > > >> ________________________________ >> From: Robert Meier <robertmeier at usjet.net> >> To: Leica Users Group <lug at leica-users.org> >> Sent: Monday, 15 October 2012, 15:08 >> Subject: Re: [Leica] D800E pixel-peepers >> >> That's why people convert cash to gold. >> >> >> On Oct 15, 2012, at 2:55 AM, Frank Dernie <Frank.Dernie at >> btinternet.com> wrote: >> >>> Here in the UK from 1972 to now the loss of value of the ? is at least >>> 20x, for a house more like 30 to 40x. >>> IMHO inflation is a big problem, little addressed by governments or >>> banks, since it suits their business plan, but a catastrophe for the >>> rest of us who have saved for retirement. >>> Having a situation where currency is worth less and less is truly absurd >>> since money was invented as an exchange token to offset bartering time >>> differences. It is nowadays treated like a commodity worth having in >>> itself, and manipulated by greedy ruthless b*stards. >>> FD >>> >>> On 14 Oct, 2012, at 23:36, Howard Ritter <hlritter at bex.net> wrote: >>> >>>> Sorry, that should have been "conversion factor is close to _15 or >>>> 20_", meaning the number of dollars required to buy a given German >>>> commodity in 2012 that cost $1 in 1966. >>>> >>>> ?howard >>> >>> >>> _______________________________________________ >>> Leica Users Group. >>> See http://leica-users.org/mailman/listinfo/lug for more information >> >> >> _______________________________________________ >> Leica Users Group. >> See http://leica-users.org/mailman/listinfo/lug for more information >> >> >> > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information