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Bob the Baptist's Take on Gresham's Law
Posted: Tue May 31, 2016 10:34 pm
by 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.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Tue May 31, 2016 11:26 pm
by Philosophy Explorer
Oh Queen of the Universe and FDP, I await your wisdom.
PhilX
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sat Jun 04, 2016 6:20 am
by Philosophy Explorer
It's like say bad members drive out good members from a website.
PhilX
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sat Jun 04, 2016 12:45 pm
by 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.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sat Jun 04, 2016 12:49 pm
by Hobbes' Choice
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sat Jun 04, 2016 1:49 pm
by Dalek Prime
Philosophy Explorer wrote:It's like say bad members drive out good members from a website.
PhilX
I don't drive.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sat Jun 04, 2016 4:27 pm
by bobevenson
FlashDangerpants wrote: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.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sat Jun 04, 2016 7:29 pm
by 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.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sat Jun 04, 2016 8:27 pm
by bobevenson
FlashDangerpants wrote: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.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sun Jun 05, 2016 3:30 pm
by Dalek Prime
Bob? What's your idea of a good time? What do you do for relaxation?
Re: Bob the Baptist's Take on Gresham's Law
Posted: Sun Jun 05, 2016 8:27 pm
by bobevenson
Dalek Prime wrote:Bob? What's your idea of a good time? What do you do for relaxation?
Good times and relaxation are for the hoi polloi.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Mon Jun 06, 2016 1:58 am
by Arising_uk
bobevenson wrote:Good times and relaxation are for the hoi polloi.
Do you work bob?
Re: Bob the Baptist's Take on Gresham's Law
Posted: Mon Jun 06, 2016 1:12 pm
by bobevenson
Arising_uk wrote:bobevenson wrote:Good times and relaxation are for the hoi polloi.
Do you work bob?
Working is for the hoi polloi.
Re: Bob the Baptist's Take on Gresham's Law
Posted: Mon Jun 06, 2016 2:13 pm
by Dalek Prime
bobevenson wrote:Arising_uk wrote:bobevenson wrote: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!
Re: Bob the Baptist's Take on Gresham's Law
Posted: Mon Jun 06, 2016 2:41 pm
by 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.
