From: J
Sent: Sunday, June 16, 2019 8:32 AM
To: Walter Block <[email protected]>
Subject:
Professor,
If/when the electrical grid goes down, monthly income will stop (pensions, Social Security, salaries), and regardless of money or other resources that people can lay their hands on, they will be unable to pay bills. At this point, I’m assuming that that checks by mail will not be an option…the USPO and banks will probably not be functioning. Nevertheless, obligations will continue. While monthly bills must be paid to far-away locations, we will not be able to do so.
Would you care to speculate on what will happen when people cannot be paid or access banking, and bills cannot be sent by businesses? What a mess… the business backlog will be enormous.
J
From: Walter Block <[email protected]>
Sent: Monday, September 09, 2019 10:38 AM
To: J
Subject: RE:
Dear J:
I prefer gold to bitcoin as money. The former was once chosen by the people when they were “Free to Choose,” the latter never was.
Further, without electricity, our monetary system would be a gigantic mess with bitcoin. A horrid mess. Both our present system, and bitcoin, depend upon electricity. But gold as money does not. This is only a very minor reason to prefer gold as money to bitcoin.
Walter
2:34 am on October 1, 2019
