The Great Devaluation

19The Mechanic

Rather than view the monetary system as a finely tuned machine that offers perfect pricing signals, we would be better suited to see it as an engine that is on its last legs and due for a sudden breakdown.

The existing monetary system reminds me of the car I had in college. It was a 1980 Town and Country model stationwagon, the kind with the wooden paneling on the sides. It was a 10-year-old family car I had inherited from my Mom and it needed a new transmission before it could be given to me as my junior year college gift. The new transmission seemed to do the trick and the car, which had sat idle collecting leaves in our driveway for two years, initially ran pretty smoothly.

When I first got the car, it leaked oil. This fact was impossible to ignore, because wherever the car was parked, an oil stain would appear. Fixing the oil would have required putting the car in the shop, investing a few dollars, and getting the oil pan and a few other things replaced. I was broke but went to my local Manny Moe and Jack to price it all out anyway. I was told by the mechanic that if I didn't get it fixed, the problem would only get worse. He advised that no matter what, I needed to be sure the car always had oil in it or the engine would seize up.

In the end, I decided I was better off just filling it with new oil every couple of weeks at a cost of $1.50 per can, rather than pay the $189 estimate and be without the car for a few days. My system worked for me, at least for ...