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Midday Open Thread

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Guanxi882/01/2010 1:26:30 pm PST

re: #135 Obdicut

But that’s what I’m not getting. What’s the analogy? What is the government doing that’s the equivalent of swiping and replacing $100? Who is the dude saying the hotel rooms aren’t good enough actually supposed to represent?

Hell, if anything, the government is either a guy telling you the rate is now $120 because he just increased the amount of dollars floating around in the town, or he’s just a dude who takes that $100 and gives you back $80, keeping the rest for processing fees. But he wouldn’t be the hotel owner of somewhere you didn’t stay at— that bit makes no sense.

I just take it as a funny little parable about the value of circulating currency and the perception of value in a credit economy. I don’t recall any tax angle to the thing at all.

It’s like you and a buddy both getting mugged. As you reach for your wallet, you hand your friend that 5 bucks you owed him. It’s funny.