will old filepro work on XP computer

[Bill Campbell]

On Wed, Jun 21, 2006, Fairlight wrote:
>[Ken said]
>> > I don't understand the "we'll spend zillions of dollars upgrading
>> > our hardware every 6 months, but we won't spend a dime to upgrade
>> > the software that we bought 15 years ago" mentality.
>
>Well, the "over time" thing doesn't exactly fit (or maybe it does to them),
>but it's like having to buy an OS for the computer.  That computer isn't
>going to do anything without an OS--it's not even going to be running
>software of any type.  So basically the argument goes, "It's like buying a
>car and having to purchase the engine separately."
>
>Which argument actually does make sense to an extent.
>
>The rest I just blame on our economic system, which hasn't made sense since
>the gold standard was abandoned.  There's simply not enough money to get
>everything done, moreso now than back then.  And when the EX-head of The
>Fed says something and the market tumbles, it's incontravertible proof that
>the system is not founded on actual performance, but on opinion, 
>speculation, and expectation rather than any sensible metric.  Had someone
>not opened their mouth voicing concerns about something that may or may not
>have happened, there wouldn't have -been- a recent plummet on every market
>index.  It's a total reversal of logical causality.

That's partially right.  I think the best technical description of this is
Murray N. Rothbard's book ``Mystery of Banking'', available as a free PDF
download from http://www.mises.org.  Another very interesting book on this
is Griffin's ``The Creature from Jekyll Island''.

When money is based on something with intrinsic value, whether it be gold,
silver, or salt, there's always enough to go around.  Money in that case is
a commodity like anything else, and prices will follow the same laws of
supply and domand for money (Rothbard goes into this extensively in
Mystery of Banking.

Alan Greenspan wrote a very interesting essay on the reasons that money
based on gold is essential to keep government in check.  This essay is in
Ayn Rand's book, ``Capitalism: the unknown ideal'', published long before
Greenspan became Chairman of the Fed.

The fiat paper monies used in the world economy today have no intrinsic
value -- paper is worth about $80/ton no matter how many zeroes are printed
on it.  Today's world economy is really based on debt, not money.

When the U.S. government needs ``money'', it creates a fancy piece of
paper, a government bond, which it then ``sells'' to the Fed.  The only way
the government can pay that bond back, since it produces nothing of value
to produce revenue, it to pledge to take it from tax payers in the future.
The Fed then calls this fancy piece of paper a ``Reserve'' which serves as
the basis for credit the Fed issues.  It then pyramids 10 times that amount
of credit on top of this so-called reserve.

The Fed and other Central Banks around the world control the interest rates
on debt, which debt isn't based on anything of real value other than some
promise of the government to buy their bonds back from taxes collected from
tax payers, or perhaps by issuing more devalued currency.

Bill
--
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