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Re:Nash’s “Ideal Money and Asymptotically Ideal Money” Annot... by CyberDildonics on Wednesday October 07, 2015 @02:06PM (#10347752)
What you are saying only holds up until about 40 years ago. The 2500 years before that contradicts what you are saying.

> bad money drives out good money

It does not. More ideal money drives out less ideal money. If you knew that one form of money would inflate and another would not, would you transfer to the non-inflationary money or would you spend every last cent of your current money?

You don't have to look far to see that what you are saying is ridiculous. Argentina, Venezuela, Zimbabwe etc. are recent examples of national currencies being less than ideal. The only thing preventing Argentina and Venezuela from using US dollars is violence. Zimbabwe eventually converted to US dollars.

At the same time, if you took a long view and were going to put away $100,000 in US dollars or $100,000 in gold and you would come back in 100 years to get it, which would you do?

Re:Nash’s “Ideal Money and Asymptotically Ideal Money” Annot... by gnaritas on Friday October 09, 2015 @12:08AM (#10358096)
> What you are saying only holds up until about 40 years ago. The 2500 years before that contradicts what you are saying.

A tautology.

> It does not. More ideal money drives out less ideal money.

See https://en.wikipedia.org/wiki/Gresham%27s_law

> You don't have to look far to see that what you are saying is ridiculous. Argentina, Venezuela, Zimbabwe

You're confusing inflation with hyper inflation, a common mistake.

> At the same time, if you took a long view and were going to put away $100,000 in US dollars or $100,000 in gold and you would come back in 100 years to get it, which would you do?

As I already told you the purpose of money is not to save it, I would not store 100k liquid as cash; cash does not exist to save, it exists to trade. Save assets, not money. Money is a tool, inflation only bothers those who don't understand how the tool works and try and use it inappropriately.