tag:blogger.com,1999:blog-3204469067418391064.post4769250333012189840..comments2023-03-20T05:30:00.266-07:00Comments on Hugh: The Floating Dollar as a Threat to Property RightsHughhttp://www.blogger.com/profile/16365758740695947727noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3204469067418391064.post-34322869838209037402011-03-21T19:03:01.796-07:002011-03-21T19:03:01.796-07:00You cannot pour new wine into old wineskins. This ...You cannot pour new wine into old wineskins. This is so true. <br /><br />Someone please get this message to my ole buddy Seth. The ultimate purpose of the USD is not that of a currency. It serves as a currency within a fiat currency paradigm, true, but its ultimate role is that of a real-time measure within a gold money paradigm ... but in real-time. The problem with BW was the fixed peg. We can digitally split gold ownership by weight and send title (as currency) to each other in the twinkling of an eye. Gold payment processors are the working models to this testament. The bridge of the dollar had to be created to connect two paradigms of fiat and gold payment since most all goods and services are priced in fiat. There also had to be a market incentive to develop this monumental project. No free floating fiat currency would have meant no development of free floating gold and free floating gold payments using the dollar as a measure. Real-time was the goal as the economy is a real-time event ... yes ?Anonymousnoreply@blogger.com