Great post Von. I sent you an email a few days ago and it bounced. Has it changed? I can understand if you do not want it public.

Agree with everything you said. I will add just this one thing that is not in disagreement, but simply an addition.

"The main purpose of a currency is to retain stored value. This allows you when young to save excess labor you are able to do quite easily for a time when you are old and perhaps are unable to work or wish to not work as hard as say when your 18."

I agree with that. Another main purpose of currency is as a medium of exchange. The US dollar works extremely well for that purpose, but the creators of our dollar have forgot or more likely ignore the purpose you describe. Actually Keynes promoted making capital nearly worthless as a way to prevent people from storing their labor value. He wanted government to flood the system with liquidity so the "rentier" as he called them would earn nothing. Keynes idea was that if capital was almost free, it would super charge the economy and make it more prosperous. And he is the hero that the current crop of economists worship at his altar. Keynes could not distinguish between real capital that was earned through hard work and innovation and what he referred to capital that was currency created out of nothing.

And we live the damning of his mistaken ideas today.

John