"Is our future store of value going to be based on these scarce resources or a basket including platinum palladium rare earth elements moon rocks and perishables?’
I’m not sure what you mean by a basket, and how perishables can fit into it. Will a person with a ten dollar bill be able to go into a bank and get moon rocks and tuna fish in exchange, on demand?
Also if you are looking for a store of value, of what use are moon rocks? They are easily counterfieted [as evidenced by the claim on the part of some that they are all fakes] and cannot be used for anything.
The standard recommendation is to just let people use whatever they want as money. Wampum worked fine for the Indians, bottled water is doing nicely in parts of Iraq as we speak, maybe those little dollar bottles of whiskey are to be our future money.
Then please apply some Austrian economics to your inquiries.
Any amount of gold could work, assuming this is what market participants decide. The magic of a computer, with the ability to handle an awful lot of digits to the right of the decimal point would do the trick. Commodore 64 type technology. Not so complicated.
The market delivers things far more complex than money, without anyone or any central group “planning” for it. Yet, you feel something as relatively simple as money needs a plan. What “we” “need” are enough educated people to disallow the shephards to lead us to slaughter again the next time. Yet you complain about Ron Paul, the one person most responsible (with the general public) for the rebirth of these ideas at this time
I don’t see any reason why we can’t all carry around PDAs with about 100 different commodities on them. Whenever we want to make a trade, just convert a certain amount to whatever currency the other guy wants. If the transaction cost is too high, people will gravitate towards certain commodities, which will become defacto currencies. But in the electronic age of trade, goods are much more liquid than before.
The standard recommendation is to just let people use whatever they want as money. Wampum worked fine for the Indians, bottled water is doing nicely in parts of Iraq as we speak, maybe those little dollar bottles of whiskey are to be our future money.
You’re on the right track Dave. Those little dollar bottles of whiskey not only don’t deteriorate over time they get better. Think I’ll down a few bucks right now. Merry Christmas ya’ll (and happy whatever else is politically correct..) burp seeya.