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To: TopQuark

As stated above, the adoption of gold and silver as money by a jurisdiction is significant, no matter what jurisdiction it is. The significance increases as the number of jurisdictions (and individuals) participating in the practice increases.


11 posted on 09/06/2010 6:35:30 PM PDT by DeaconBenjamin (A trillion here, a trillion there, soon you're NOT talking real money)
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To: DeaconBenjamin
"adoption of gold and silver as money by a jurisdiction "

It is unclear what this means in the contest of the article. The shops accept gold coins --- fine. Well, you can buy lots of stuff in Italy for dollars, but dollar-denotminated trade has never been accepted by that jurisdiction. I think you are reading too much into this.

I respectfully question your criterion as well. The world economic system is not a democracy; the number of jurisdictions does not matter: what matters is their proportions in the economy. An example of Italy or even Hungary matters to some extent, but Malaysia hardly. By the same toke, you could count a great number of African jurisdictions that adopted socialism in 1960s. What is the effect on the world system today? None at all (aside for a greater need for assistance of that even more impoverished continent).

12 posted on 09/06/2010 6:50:12 PM PDT by TopQuark
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