I've given out a homework problem to candidates for several years now and I really like the insight it gives me. the problem is based on this: http://steve-yegge.blogspot.com/2008/10/universal-design-pattern.html - just design a class that implements the prototype/property pattern. Amazing the stuff people come up with

The way I like to think of it is that the dollar is based on the value of the citizens of the United States, and what could be more valuable than that? Also, asteroid mining

This is exactly why not to base your currency on gold. If someone finds a huge new deposit, your currency goes in the toilet.

Lock your laptop in a hard case while you're out.

But Hostess' CEO got a 300% raise, so it's all good, right?

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.

Um, no. China isn't the largest holder of U.S. debt.

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?

Yeah and their morning host was a Republican member of Congress! Oh wait...

" They'll definitely give domestic political groups a whole new world of dirty tricks to play."

As if they didn't have them before?

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?

Just for the record, inflation isn't about the price of anything, it's about the value of money, which is not the same thing.

I like having an anti-social network

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?

What happens if you're on the gold standard and someone brings down 100 years worth of production all of a sudden?