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gold standard

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GMLetts posted on Fri, Dec 2 2011 10:34 AM

http://www.youtube.com/watch?v=swkq2E8mswI

The Secret of Oz

It sounds like there is agreement with issues with the Fed - or money created outside the government.

What about the premise that a gold (or any commodity-tied) currency allows for outside manipulation, and that fiat money is the only way to go?

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Fiat money allows for "inside" manipulation, so it's certainly not any better.

"What Stirner says is a word, a thought, a concept; what he means is no word, no thought, no concept. What he says is not what is meant, and what he means is unsayable." - Max Stirner, Stirner's Critics
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James replied on Fri, Dec 2 2011 11:25 AM

Of course a monopolised currency is going to be manipulated.

I found this sticky thread on their official forums regarding competing currencies...

http://s6.zetaboards.com/Bill_Still_Reforum/topic/1177304/1/

For your amusement...

I just don't see how an economy with competing currencies could maintain any sort of stability. I may be wrong. However, I am also convinced, based on the rhetoric of Ron and Rand Paul, among other Austrian's, the real goal is a gold and silver standard. The competing currencies agenda, IMO, is a foot in the door, and fulfills the agenda of undermining the governments power to control the value of currency and its issuance. These people do not believe government can be trusted. Nor do they have any faith in elected government, obviously.

I love what you are writing. You are exactly right. Government -- rightly constructed and actively attended to -- is the bulwark of human freedom. We must make government trusted once again. It is our only way out. Individually we cannot compete with the moneychanger mob. We can only do so by allying ourselves with each other in self-government. That is why retaking the money power is THE most important job of government.

Rather than outlawing it they just want banks to fail if they engage in it too much, which is where I disagree with them.


I feel it should be totally outlawed and probably should be one of the biggest crimes you could commit, right up there with treason and acts of (economic) war.                          

I'd still think the state should make their own currency and use that for taxes, if people want to use another medium of exchange to engage in commerce, they do so at their own risk.

It's funny when you research this subject to see propaganda coming out of the Austrian machine about new evidence in respect to the free banking era! And how it was not so unstable after all! The Austrians are wizards at revisionist history.


Of course, you should expect this sort of non-sense when you realize this is basically what the Austrians are advocating for. Only after stripping Article 1, Section 8, destroying the true sovereignty of the Federal Government, so that the hidden-hands can feast on the American people.  <

The sovereignty of the Federal government?

Jeez.

Hand on, my eyes have rolled out of my head onto the floor...  Damn, I hate it when this happens.

*sigh*

Do you think these people realise that Sir Evelyn Rothschild kneels before the pharoah like everyone else?  They're not at the top...  Just very close.

It's always so tempting to use the Ring for good, right?

I don't know how much they've thought about what their plans would entail vis-a-vis government spending.  If the government can't lend money, and it can't just print iself into hyperinflation, then it has to levy taxes to pay for all its spending.  If every increase in government expenditure had to be met by a commensurate and immediate increase in tax revenues, the government would be much, much smaller than it is today.  You can't talk about changing the way government revenue works without talking about changing the way government spends...  You aren't going to be able to have all your free stuff, because it's not possible to pay for it.  Most of the government will have to be abolished, at least.

Non bene pro toto libertas venditur auro
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bbnet replied on Fri, Dec 2 2011 12:15 PM

from zetaboards forum as posted by JJ:
"The competing currencies agenda, IMO, is a foot in the door, and fulfills the agenda of undermining the governments power to control the value of currency and its issuance. These people do not believe government can be trusted. Nor do they have any faith in elected government, obviously."

I plead guilty on all counts, tyvm.

"Individually we cannot compete with the moneychanger mob."

Just say know!

"I feel it (fractional reserve banking) should be totally outlawed ..."

Isn't fraud already a crime?

"(diminishing the power of the federal government)... so that the hidden-hands can feast on the American people."

Much better to vote for the hand that robs you?

@GMLetts
Poor Mr. Still, he fell in love with Friedman then got stuck in Chicago. While his intentions are pure, the consequences of his policies would be devestating (remember the tyranny of our high heeled prez and his failed greenbacks?). I hope he is able to expand his intellectual horizons and am glad to see he has improved his telepresence slightly.

In a nutshell, power corrupts. The more concentrated the power, the greater the corruption. Austrians do not advocate centralization of power where the 'money masters' have an opportunity to manipulate the government, nor where the government assumes complete control over the currency. Instead we prefer a 'society' that is free of these priveledged opportunities where power (and responsibilty) is decentralized to the individual for the long term benefit of everyone.

We are the soldiers for righteousness
And we are not sent here by the politicians you drink with - L. Dube, rip

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z1235 replied on Fri, Dec 2 2011 12:41 PM

GMLetts:

What about the premise that a gold (or any commodity-tied) currency allows for outside manipulation, and that fiat money is the only way to go?

What outside manipulation? 

"Fiat is the only way to go" is not a premise. It's a conclusion, ridiculous one at that.

The documentary in your link has been made by poor, economically uneducated souls. Their main problem is their belief that scarcity (of goods and services) is caused by lack of money -- the preposterous idea that scarcity (including hunger and impovershment) could be eliminated by simply allowing (benevolent) governments to create "enough" money out of thin air and to give it to the people without interest. The government (the people) vs. banks dichotomy is a dangerous distraction. The correct dichotomy is the people vs. government (+ banks)

Spend some time at these forums and peruse the vast, free resources at mises.org. I'd suggest Rothbard's "The Case Against The Fed" as a good, short starter. 

 

 

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