Re: Big purple digit

In article <ddfr-8645AB.01031415042008@[EMAIL PROTECTED]
>,
David Friedman  <ddfr@[EMAIL PROTECTED]
> wrote:
>In article <MyKMj.7901$yD2.3203@[EMAIL PROTECTED]
>,
> Jette <bosslady@[EMAIL PROTECTED]
> wrote:
>
>> Keith F. Lynch wrote:
>> > John Dallman <jgd@[EMAIL PROTECTED]
> wrote:
>> >
>> >> Certainly, the people who object most strongly to the idea of
>> >> the UK joining the Euro act as if they're terrified that
>> >> changing their money for a different currency will destroy its
>> >> value, or worse, risks other people getting their hands on
>> >> money.
>> > 
>> > It would mean the UK government would no longer have full control
>> > over the currency.
>> 
>> Not sure they do anyway.
>
>Absent counterfeiters, the currency is the one part of the money
>supply they do control.

I thought that there were a number of factors the UK government can
currently use to contribute to control of the money supply: regulation
of fractional-reserve banking, regulation of credit cards and such,
injecting or removing money ("market operations" is it?), and perhaps
more.

-- 
Tim McDaniel, tmcd@[EMAIL PROTECTED]