Coin shortage may be economic sabatoge

[stonej]

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=5508

[Mike Marotta]

On Oct 27, 7:16 pm, stonej <sto...@mail.lib.msu.edu> wrote:
> http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=...

Simply put, the government of the Philippines (or any government)
could spend less than it takes in from taxation. Then, its currency
would not lose value.

More subtly, if a coin gave only its weight and fineness, it would
always be worth its so-called "intrinsic" value. Equating commodity
money with money of account (silver "dollars" or gold "francs" or
copper "paisa") opens the door to problems when (inevitably) coins are
worth more or less than their face value.

Getting busted is a risk. It costs money. I feel somewhat sorry for
the exporters, but not sorry at all for the govenrment of the
Philippines.

Mike M.
"I am good copper. Value me as you choose."