Off topic- Intuit logging in to my bank account?- Conclusion (I

Liz edodd at billiau.net
Sat Oct 8 21:36:54 EDT 2011


> 
> Money, to be of value, must have 4 essential qualities;
> 
> 1.  It must be an historical store of value....Gold and Silver meet
> that.
> 
> 2.  It must be divisible 
> 
> 3.  It must be portable and compact
> 
> 4.  It must be durable
> 
> The current FRN (Federal Reserve Note) meets only point 3.  
> Paper money has 
> no way of storing value, it's easily destroyed and has never been a
>  preferred means of exchange except as fiat currency favored by those
> that would destroy our wealth.
> 

Ignoring the political connotations:
the quantity of paper money in circulation does not represent the level
of transactions in that currency.
Here plastic card payments and other non-cash transfers exceed the
[legal] cash economy. The banknotes and coin are only part of the
picture, personal cheques and transfer of funds by plastic debit card.
Debit card is the most common way of buying goods in Australia, and old
economics which "restricted banknotes" have no effect on the debit card
transactions.


More information about the gnucash-user mailing list