Wouter van Ooijen wrote: >> *ALL* monetary systems are based on trust, including cash. If the >> "end-users" of the system stop trusting the system, it falls >> apart (or more likely is re-vamped). > > But some are more trust-based than others, so it is usefull to talk > about such differences. Heh, agreed. Just a reminder of basic Economics, in case anyone forgets that cash isn't really "worth" anything other than what people believe it's "worth". I sure like having some of it in the current state of mind, though -- please feel free to keep believing my cash is worth something. I like it that way! :-) Nate -- http://www.piclist.com PIC/SX FAQ & list archive View/change your membership options at http://mailman.mit.edu/mailman/listinfo/piclist