Musicmystery -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:45:53 PM)
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Yes, that's it exactly. People kept their gold at goldsmiths to take advantage of their security. Goldsmiths gave them IOUs to trade instead of carrying around the gold. Then goldsmiths realized they could float more IOUs then gold. Entirely a plan, scheme, thought, notion, idea. If it's widely accepted, it's money. And if not---then gold is a soft yellow rock. quote:
I have not read any economists work yet where they didnt belong in a rubber room. OK. So you're smarter than all others, including all other economists. What a megalomanic. There's no point arguing with someone who's defined himself as such a priori. Find a smiley for that.
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