Thread: Dirt poor?
View Single Post
Old 04-06-2004, 03:46 PM   #178
jaguar
whig
 
Join Date: Apr 2001
Posts: 5,075
Quote:
I don't think the velocity with which currency is circulated requires more currency to be minted, although it may cause a need for more sturdy currency; coins instead of paper for instance.
See now I'm not sure. You could be making a joke. That would however imply you have a sense of humor. You could, on the other hand, simply not have read anything I've written (wouldn't come as much of a shock, you've avoided the point for pages) or simply have little or no real knowledge of economic terminology.

In case is it the latter I'll give you a brief definition:

Basically, Velocity of Circulation is the number of times money changes hands, it's technical definition is GNP divided by money supply. Since we're dealing with basics here I'll define GNP: Gross National Product, GDP + income from foreign investments - pay sent overseas by foreign workers. Mostly replaced by GNI in national accounts at any rate.

I've taken the essays, I'll read over them some time in the next few days and get back to you on that point.
__________________
Good friends, good books and a sleepy conscience: this is the ideal life.
- Twain
jaguar is offline   Reply With Quote