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PROOF PROOF PROOF that Mises is right about money.

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Malachi Posted: Wed, Mar 14 2012 8:20 PM
http://online.wsj.com/article/AP3ae8bd344fbc4e80ad12a4213420cc0b.html

People are using Tide brand laundry detergent as money. This proves that the commodity origin of money is true and real and happens all the time, not just one time a long time ago when people invented money. New money is being invented all the time. Only the market can decide what money is.

Keep the faith, Strannix. -Casey Ryback, Under Siege (Steven Seagal)
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Malachi:
People are using Tide brand laundry detergent as money. This proves that the commodity origin of money is true and real

Or maybe it just means there is a newfound interest in cleanliness and fragrant surroundings among the unwashed (no pun intended) miscreants of the DC Metro area!  Maybe one day your Misesian confirmation bias will subside and some actual logic will enter your analyses.  "FREE KONY 2012!!1!!"

 

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Obviously animal spirits.

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Wheylous replied on Wed, Mar 14 2012 9:30 PM

A single example of something conforming to a theory is now a proof?

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Bert replied on Wed, Mar 14 2012 10:14 PM

Should be more specific, not people, but criminals; not a market, but a black market.  It seems criminals and drug dealers found some way to make quick cash, steal dozens upon dozens of $20 Tide bottles and sell it cheaper to individuals or cornerstores for less than the actual suppliers, and make quick cash.  Simply put by a local news source,

Cops say crooks are trading Tide for drugs and they are selling it on the black market for cash.

“There's no serial numbers on it. There's really no way to trace it to what store it came from,” says Jerasa.

This is just a step up for criminals in a way.  Couple months ago someone stole my brothers 2 handguns and a small amount of ammunition, but did not touch anything in his house, not even his Xbox or iPod that was sitting on the entertainment system that they even opened up to check.  The guy was looking specifically for guns and only took guns.  When the guy was caught he did a dozen or more homes and all the same, only guns and to sell it to drug dealers.  Problem for them the serial numbers can be traced.  If the criminals found out a way to profit from this and assume it's less dangerous than breaking into homes to steal guns then it seems that this will happen more often now.

According to Malachi this proves some origin of money, stealing Tide from stores and selling it to drug dealers, which in a way is akin to stealing guns from homes and selling it to drug dealers (same actions apply), or simply stealing [insert object here] and selling it to [insert criminal here].  Somehow stealing and selling stolen goods to someone proves the origins of money.

I had always been impressed by the fact that there are a surprising number of individuals who never use their minds if they can avoid it, and an equal number who do use their minds, but in an amazingly stupid way. - Carl Jung, Man and His Symbols
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Malachi replied on Thu, Mar 15 2012 9:49 PM
So I am reading Human Action and I found a quote where Mises basically says (paraphrasing loosely) "bitcoin is money, you idiots"

Money is neither an abstract numéraire nor a standard of value or prices. It is necessarily an economic good and as such it is valued and appraised on its own merits, i.e., the services which a man expects from holding cash.

since the regression theorem is apodictically certain, we can necessarily conclude that people first purchased bitcoin as a datum representing cryptological computation power in a system or because of their desire to own data. Since data may only be owned through encryption, they encrypted those data.

@Bert, if I find a historical example of gold being mined with slave labor, does that mean that gold isnt money? Or is it sufficient for something to be money if the market decides that it is money? As far as the market being black or white or whatever, I dont quite see the relevance. Is this like the blood diamond thing?

Also, you said that these alleged criminals "sold" tide, guns etc. Does that make them the retailer and the drug dealer the customer? That would make the drugs into money. But isnt that what drug dealers do? Drugs are a first order good, whereas guns and landry detergent are nth order goods. That makes them closer to money, right?

@thread, your cowardly attempts to silence me have not gone unnoticed. I may be a homeless, unwashed, pacifist veteran with long hair and questionable fashion sense, but I am not a hippie.

FREE KONY 2012!

Keep the faith, Strannix. -Casey Ryback, Under Siege (Steven Seagal)
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Bert replied on Fri, Mar 16 2012 1:25 AM

 I don't have a name for this list yet, but right now it looks like this:

1. Freedom4Me

2. Malachi

You get the idea.

I had always been impressed by the fact that there are a surprising number of individuals who never use their minds if they can avoid it, and an equal number who do use their minds, but in an amazingly stupid way. - Carl Jung, Man and His Symbols
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Malachi replied on Fri, Mar 16 2012 3:34 PM
So basically youre the msm, and I am the Ron Paul of trolls.
Keep the faith, Strannix. -Casey Ryback, Under Siege (Steven Seagal)
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