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Yes! Which is why when you hear stuff like "Social security is just pieces of paper", remember those pieces of paper represent money *we* lent to the government, much of which was then given to rich people for tax cuts who don't want to pay it back.
Right now 10 year treasury bonds are selling at rates that mean investors *lose* money, accounting for inflation. Tell me again how our debt makes us in trouble?
I live next door in Bolton, so this is particularly interesting.
One thing I know about the area is that at Town meeting much of the most interesting and cogent points are made by older folks that are the least likely to have an internet connection. How are you going to represent people that do not have an internet connection?
It may be finite, but if it's as much as currently exists it's going to have an impact, to put it mildly. Ask the Spanish what happens when a ton of gold is brought in.
However, this brings up another point. Before the establishment of the Fed, there were bank runs on a pretty regular basis. The Fed acts as sort of a shock absorber - what serves this function otherwise?
And remember, these panics happened while we were on the gold standard.
And another question: what would the value of gold have to be if it needed to cover all the money that currently exists?
It seems to me that if scientific papers were published with a series of standard meta data they could be submitted to software based peer review that could go through the published literature and look for inconsistencies, missing references, misleading statistics and other things that need addressing.
I've done a bunch of these and can testify that it is the ultimate grandparent present. Nothing else compares to a high quality bound book of pictures of the grandkids that they can show to their friends.
Now of course they bug me to do them all the time...