W, There is no doubt about that. James Dines and many of the writers in the modern gold camp seem to vilify J.M. Keynes for his seemingly flippant quote, "In the long run, we are all dead." but the fact of the matter is that in the long run we are all dead.

Keynes cannot be faulted for any lack of accuracy in his quotation, but rather for a lack of sensitivity to the needs of future generations. No NFL team should trade away all its draft choices in order to build a great team and achieve greatness for one to two years only to suffer many years into the future, yet this is exactly what most football fans would elect ot do, if given the choice.

Why? We live in a selfish time. Parents don't take care of their children. Women don't breast feed. Day care centers are on every corner. Middle aged aduls are out "partying" every weekend. It's both the rich and the poor. The rich just have more expensive hobbies. And nothing really important is being done by most people.

Gammage was right. It's our money supply. It has become corrupted and we, most of us rather, have become corrupted because of it. We look for burglars around every corner, because we have become burglars ourselves. We are all a part of this giant fiat money experiment and it has corrupted us all.

So, getting back to what you said. Yes, production can increase under a fiat money system, but look at the production increase under Adolf Hitler building up to WW2. One of the most spectacular comebacks of all time after the defeat in WW1. But for what? Look at what it ended in.

The ends are all that matter. People need to see that. The means are only valuable in as much as they relate to the ends. Bull