Friday, April 4, 2008

Money is worth what you paid for it

clipped from

gam·bit   /--gæmb?t/ [gam-bit]
1. Chess. an opening in which a player seeks to obtain some advantage by sacrificing a pawn or piece. 
2. any maneuver by which one seeks to gain an advantage. 
3. a remark made to open or redirect a conversation. 

Anyone who's studied, chess, warfare, politics, or law is familiar with the gambit.  A person opens themselves up to a material loss, in exchange for long term positional advantage.

Either the government wins its case against NotHaus, and he goes to jail, or the government loses, and Nothaus (and anyone else, for that matter) can create commodity backed currencies.

And here's where it gets interesting.

Let's assume that the Government loses.  This will be good news for those who want a return to the Gold Standard.

Let's assume that the Government wins.  Then we're no better/worse off and everything is back to normal, right?  Wrong.

Consider these facts:

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