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Chavez: New currency to be introduced (drops 3 zeros from bolivar)
yahoo ^ | Thu Feb 15,2007

Posted on 02/18/2007 7:25:46 AM PST by staytrue

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To: theBuckwheat
Because nothing stops governments from inflating-away their currency

Public opinion can be a deterent and higher interest rates can also deter govt. created inflation.

41 posted on 02/18/2007 7:46:58 PM PST by staytrue
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To: theBuckwheat

[...to day there is no legal definition of the value of the dollar. Its value fluctuates according to supply and demand.]


That's how it's supposed to be. Assuming the economy is sound (people are continuing to freely produce goods and provide services in exchange for money) and the government isn't screwing with the supply of currency, then a dollar accurately reflects the real value of work.


42 posted on 02/19/2007 9:53:47 AM PST by spinestein (There is no pile of pennies so large that I won't throw two more on top.)
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