[D-G] greshems's law

[Sylvie Ruelle]

the haystacks that look like teeth?

On Jan 7, 2005, at 8:45 AM, Chapman wrote:

> Harald Wenk,
>
> Have you read Major Douglas on Credit? Same commotion but he's got it 
> wired so that we don't think abt convertability in terms of grains, 
> grass and minerals but in terms of transaction or consumption value. 
> Money is acknowledged to be a form of credit, 'production of 
> consumption.' The more it's used, the more value it accrues - nifty 
> non? (bow and le-hold 'homus schizophrobeniuus is every name in 
> history...')
>
> Sylvie, I understand your focus on raised northern chins. I was 
> thinking that maybe the Bergsonism book would be useful. I can't read 
> more than about thirty pages myself, but I think the big ideas about 
> time and the experience of it are fronted for us in that work. Have 
> you been to Longbeach, Or. , seen the haystacks?
>
> There's no state tax in Oregon.
>
> Chris Chapman
>
> -----Original Message-----
> From: deleuze-guattari-driftline.org-bounces at lists.driftline.org
> [mailto:deleuze-guattari-driftline.org-bounces at lists.driftline.org]On
> Behalf Of Dr. Harald Wenk
> Sent: Friday, January 07, 2005 11:23 AM
> To: deleuze-guattari-driftline.org at lists.driftline.org
> Subject: [D-G] greshems's law
>
>
>
>
> ------- Weitergeleitete Nachricht -------
> Von: "Dr. Harald Wenk" <hwenk at web.de>
> An: "Sylvie Ruelle" <sylvieruelle at earthlink.net>
> Betreff: Re:Datum: Fri, 07 Jan 2005 16:28:23 +0200
>
> Hello,
>
> "Gresham's Law:
>
> observation in economics that “bad money drives out good.” More 
> exactly,
> if coins containing metal of different value have the same value as 
> legal
> tender, the coins composed of the cheaper metal will be used for 
> payment,
> while those made of more expensive metal will be hoarded or exported 
> and
> thus tend to disappear from circulation. Sir Thomas Gresham, financial
> agent of Queen Elizabeth I, was not the first to recognize this 
> monetary
> principle, but his elucidation of it in 1558 prompted the economist 
> H.D.
> Macleod to suggest the term Gresham's law in the 19th century.
>
> Money functions in ways other than as a domestic medium of exchange; it
> also may be used for foreign exchange, as a commodity, or as a store of
> value. If a particular kind of money is worth more in one of these 
> other
> functions, it willbe used in foreign exchange or will be hoarded rather
> than used for domestic transactions. For example, during the period 
> from
> 1792 to 1834 the United States maintained an exchange ratio between 
> silver
> and gold of 15:1, while ratios in Europe ranged from 15.5:1 to 16.06:1.
> This made it profitable for owners of gold to sell their gold in the
> European market and take their silver to the United States mint. The
> effect was that gold was withdrawn from domestic American circulation; 
> the
> “inferior” money had driven it out."
>
> In my eyes it is realted to simulacras.
> If it is not helpfull for you, forget about it.
>
>
> Greetings
>
> Harald Wenk
>
>
>
>
>
>
>
> Am Thu, 6 Jan 2005 19:22:49 -0800 schrieb Sylvie Ruelle
> <sylvieruelle at earthlink.net>:
>
>> no.  what is it?
>>
>> On Jan 6, 2005, at 4:31 PM, Harald Wenk wrote:
>>
>>> Hello,
>>>
>>> Do you know Gresham's Law?
>>>
>>> Harald Wenk
>>>
>>> -- Erstellt mit Operas revolutionärem E-Mail-Modul:  
>>> http://www.opera.com/m2/
>>>
>>>
>> Ms. Sylvie Ruelle
>> http://home.earthlink.net/~sylvieruelle
>> rw_artette_lc at yahoo.com
>>
>>
>
>
>
> -- 
> Erstellt mit Operas revolutionärem E-Mail-Modul: 
> http://www.opera.com/m2/
>
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>
Ms. Sylvie Ruelle
http://home.earthlink.net/~sylvieruelle
rw_artette_lc at yahoo.com