-
I've been reading the comments in this thread and am appalled by the level of ignorance and arrogance by anyone too scared to accept that a non-commodity backed currency could ever work. You all seem to forget that the sole purpose for money is to facilite exchange. One of the main reasosn you'd...
-
Due to the threat of inflation and taxation, I am wanting to know what exactly is Sound Money. I have been skimming through the Theory of Money and Credit, is this a book you would recommend? Also there is a book called Life, Inc. (which is just a simple pop science book) which introduced me to the concept...
-
Can "saving" only involve money/currency?? In an economic sense, can it also apply to labour, and time?? If you start fundamentally defining what money actually is i think saving actually refers to your labour and time. What are your thoughts??
-
According to my understanding, the raw materials used to make pennies and nickles are both worth more than their fiat value. If people were to destroy these en masse and sell the materials, would there be wealth created (or better yet, recreated), due to the increase of raw materials and deflation?
-
It seems to me that the imposition of the Euro - which was established as a purely fiat money - puts the regression theory in perspective and possibly refutes it. If «nothing can enter into the function of a medium of exchange which was not already previously an economic good to which people assigned...
-
Does Gresham's Law prove that money must have intrinsic value? Great article by Gary North. I didn't know all that about Gresham's Law and foreign exchange. Does it also have a simpler application as explaining domestic circulation? For instance, when arguing with Keynesian/Chicagoites, who...
-
What I’ve gotten so far is that he suggests we invert the investment utility of money as a medium of exchange. Rather than earning money for hoarding money (interest on savings), he evokes the thoughts of Silvio Gesell saying that ...money is a public good - like the telephone or bus transport...
-
local / competing currencies, as I understand, are the essence of liberty and will, inevitably, lead to the universal acceptance of a gold standard. I believe the usage of localized currencies will be fairly widespread within the next 10years. the past two days, I have become very interested in Bernard...
-
Hi, We already have the system in place for a house-backed currency. Banks are already issuing house-backed currency. However, they trick us into signing over our home and paying them 1.5 times the value of the mortgage in interest alone all for some simple accounting services. How could an accountant...
-
Monetary Evolution: Where are we today? Commerce today is dominated by “electronic” transactions. A business that does not support the use of debit/credit cards will be extremely limiting its customer base and will likely not survive. The emergence of this form of money was the credit card...