I just read 100 Percent Reserve Money: The Small Change Challenge (Selgin) and found that Selgin now comes with his FRB idea through the small change problem. I think that the issue of 100% gold standard or FRB is all a matter of semantics (we should define deposit as a debt or as a bailment), and despite I think that it's not fraud (it's still a free contract), it's not viable in a free society where, for example, libel law suits won't be outlawed. I think that the small change challenge would be solved by two parallel standards (as Selgin mentions in his article, but considers very difficult to apply in practice). Any opinions?
February 17 - 1600 - Giordano Bruno is burnt alive by the catholic church. Aquinas : "much more reason is there for heretics, as soon as they are convicted of heresy, to be not only excommunicated but even put to death."
Juan:No opinions. Just the fact that small change is a non-problem that only exists in Selgin's mind. Well other people who want to sell their non-solutions to non-problems may share Selgin's ideas, granted.
GilesStratton: Allowed Authors: Rothbard, all works. Rand, all works (read carefully though) Hoppe, all works (read carefully though) Block, all works Authors who should be avoided: Mises (he can be ambiguous) Hayek (he's a commie) Boettke (heretic) Selgin (he's in the employment of the FRS) White (see above) Yeager (he denied that Rothbard supported argumentation ethics, thus catching himself in a PERFORMATIVE CONTRADICTION!) James Buchanan (he said the state was voluntary) Gordon Tullock (see above) Don Lavoie (I didn't want to name him, the fewer people that read this black sheep the better) Steven Horwitz (see above) Dave Prychitko (see above) Israel Kirzner (he's OK, but he disagrees with Rothbard) All other economics (they're evil, state apologists and just not as good as Rothbard).
Allowed Authors:
Authors who should be avoided:
Juan:lol. There's something really wrong (with you) when the only 'authority' you can invoke is his majesty Stratton.
Even a "broken" libertarian is right twice a day.
"Look at me, I'm quoting another user to show how wrong I think they are, out of arrogance of my own position. Wait, this is my own quote, oh shi-" ~ Nitroadict