----- Original Message ----- From: "Doug Henwood" <dhenwood at panix.com>
> Compared to what, the 19th century? The current fiat regime is a lot
> more stable than that. I'm not saying we'll never see a generalized
> flight from paper assets, but it seems rather unlikely.
>
> I'm always amazed how similar the analyses of Marxists and
> right-wingers can be.
>
> Doug
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Aren't 'paper assets' now largely databases of asset computations 'representing' claims on future output? Money as a relatively stable, if chaotic, bundling of algorithms?
Ian