Dollars vs Pounds
dsc at swcp.com
Fri Nov 3 15:02:48 CST 2006
On Nov 3, 2006, at 1:45 PM, Dar Scott wrote:
> This vast difference would certainly encourage customers to be
> virtually in the US, which is probably not what RunRev wants.
> Grishim's law applies, I think. I don't think Grishim's law can be
> wished away, or avoided by strong moralizing statements.
Whoops. That is Gresham's law, not Grishim's law.
Here is a description as it applies to legal tender:
Here is a commentary:
The adage is that bad money will drive out good. It applies to the
circulation of legal tender. I applied it in a slightly different
way in that there are market forces that push people to qualify for
using the money that is worth less gold when buying Revolution. As
the dollar falls, it will be spent instead of pounds for the same items.
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