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I think he was playing politics on that one. I doubt that was his real position.
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[quote user="richie2044"] On Tuesday, November 27, I listened to Pat Buchanan speak on The Laura Ingraham Show. Some of the topics discussed, of course, were the "sinking" dollar, trade with China, and the "disappearing" manufacturing jobs. Buchanan implied that Adam Smith and David Ricardo were antiquated since capital
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A contract persupposes property rights. Fractional Reserve Banking by its very existence violates property rights. For example: Person A deposits $2000 into bank X, and it sets aside 10% ($200); bank X then loans out person A's $1800 dollars to person B; A and now B claim ownership of the exact same $1800 which is incompatiable with property rights
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My favorite argument against utilitarianism is the reductio ad absurdum : [quote user="Murray Rothbard"]Suppose that the vast majority of people in a society hate and revile redheads, and greatly desire to murder them; and suppose further that there are only a few redheads extant at any time. Must we then say that it is "good" for
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A contract presupposes property rights. Fractional reserve banking violates private property rights because two or more people claim ownership of the exact same thing (e.g. person A deposits $2000, the bank sets aside 10% (200) and loans out $1800 to person B; A and B claim ownership of the same $1800). Therefore a contract that entails fractional reserve
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Classicists used the labor theory of value (Adam Smith should have had a position similar to Marx because of the LTV). They also looked at aggregates instead of marginal units (Diamond-Water Paradox). Those are the two big ones.
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[quote user="JonBostwick"] This is a straw man. No one has ever said that it would be illegal under anarcho-capitalism to advocate the formation of a state. That, while possibly a threat, is definitely not coercion. No one is using threats in order to influence actions. There is no paradox, because it is not a crime. [/quote]Correct, it is
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Woodrow Wilson. He made the world safe for mass murder. King Lincoln comes in second. He was the first warmongering fascist in US history and opened the door for Wilson and FDR.
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"Human" rights do not exist. Only property rights exist. I do vote because it is an attempt to legitimize an illegitimite institution. "The ballot... is a mere subsitute for a bullet." -Lysander Spooner
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The main reasons why I think it is able to exist are 1) most people are too ignorant to realize the consequences 2) some people believe creating money out of thin air "creates" wealth 3) the incredibly fallacious nonsense that the Fed/Central Banks "manage" the economy by using fiat currecy 4) to those who understand how terrible