Bob the Baptist's Take on Gresham's Law

[bobevenson]

Gresham's Law
Gresham's Law is backwards.
Bad money doesn't drive out good money,
Good money drives out bad money,
Pure money drives out impure money,
Real money drives out counterfeit money.
What is counterfeit money?
A gold coin.

[Philosophy Explorer]

Oh Queen of the Universe and FDP, I await your wisdom.

PhilX

[Philosophy Explorer]

It's like say bad members drive out good members from a website.

PhilX

[FlashDangerpants]

FDP has nothing much for you. Gresham's law is an antique conundrum about copper coins being spent more freely than gold ones if they have the same face value. Nobody has needed a take on this law for at least 100 years.

Has somebody been poking at Bob's Intrinsic Market Value problem again? The only reason for Bob to look at GL is if somebody made him think about money with intrinsic value.

[Hobbes' Choice]

[Dalek Prime]

It's like say bad members drive out good members from a website.

PhilX

I don't drive.

[bobevenson]

The only reason for Bob to look at GL is if somebody made him think about money with intrinsic value.

Money by definition has no intrinsic value since it is merely a medium of exchange of property, which does.

[FlashDangerpants]

Thanks for that important update Bob.
This is a hugely important discussion, I'm glad God thought it was worth spending his greatest emissary upon it.

[bobevenson]

This is a hugely important discussion, I'm glad God thought it was worth sending his greatest emissary upon it.

Despite your facetiousness, you have managed to express two fundamental truths.

[Dalek Prime]

Bob? What's your idea of a good time? What do you do for relaxation?

[bobevenson]

Bob? What's your idea of a good time? What do you do for relaxation?

Good times and relaxation are for the hoi polloi.

[Arising_uk]

Good times and relaxation are for the hoi polloi.

Do you work bob?

[bobevenson]

Good times and relaxation are for the hoi polloi.

Do you work bob?

Working is for the hoi polloi.

[Dalek Prime]

Good times and relaxation are for the hoi polloi.

Do you work bob?

Working is for the hoi polloi.

That's a lot of pressure on the hoi polloi, isn't it? Save them Bob. Save them!

[bobevenson]

The hoi polloi want to do less work at higher pay and more benefits, and that's the reason they join labor unions to extort these demands from employers with the help of the government.