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FIAT Money in Action
From: Rod Remelin
To:
Sent: Friday, June 05, 2009 1:53 AM
Subject: Fiat Money in Action
Fiat Money in Action
It is the month of August, on the shores of the Black Sea.
It is raining, and the town looks deserted.
Tough times, everybody is indebted. And everybody lives on credit.
Suddenly, a rich tourist comes to town.
He enters the only hotel, lays a 100 Euro note on the reception counter, and goes to inspect the rooms upstairs in order to pick one.
The hotel proprietor takes the 100 Euro note and runs to pay his debt to the butcher.
The butcher takes the 100 Euro note, and runs to pay his debt to the pig grower.
The pig grower takes the 100 Euro note, and runs to pay his debt to the supplier of his feed and fuel.
The supplier of feed and fuel takes the 100 Euro note and runs to pay his debt to the town prostitute that in these hard times, gave her services on credit.
The hooker runs to the hotel, and pays off her debt with the100 Euro note to the hotel proprietor to pay for the rooms that she rented, when she brought her clients there.
The hotel proprietor then takes a 100 Euro note out of his cash box and puts it on the counter, so the tourist would not suspect anything.
At that moment, the rich tourist comes down after inspecting the rooms, and takes the 100-E Note after saying that, he did not like any of the rooms, and leaves town.
No one earned anything. However, the town is now without debt, and looks ahead with optimism.
And that, ladies and gentlemen, is how the United States does business.
Hookers and hogs may have a future.