29 Aug '11, 7am

Money Supply in an Energy Scarce World, Peak Oil | Peak Oil News ...: The curse of oil — too sudden an influx of...

* Gold was primarily an energy currency because more energy meant more gold, and cheaper energy made cheaper gold. * Gold standard broke down when the Spanish raided America and then Spain started to import everything, and lost their interest in making things themselves. * The curse of oil — too sudden an influx of money. * If you have a source of energy under your control, then you have the power to decide what is done. * Importing energy is like a loss of sovereignity. * How many minutes of work does it take to buy a certain food, such as a 3-pound chicken. * Two measures of complexity: 1. numbers of artificts in common use; 2. number of recognised job descriptions. * Complexity also can be seen by the number of different goods available in grocery stores, etc. * The amount of energy to find and produce oil is getting closer and closer to the energy return (EROI). * How ...

Full article: http://peakoil.com/generalideas/money-supply-in-an-energy...

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