proutdoors
Lobbyist
Posts: 1059
Join date: 2010-05-29
Age: 45
Location: Gunnison Valley
 | | Subject: Mercantilism and Inflation Thu Jun 03, 2010 11:35 am | |
| http://mises.org/daily/4439 | Quote: | | The post-medieval state acquired most of its eagerly sought revenues by taxation. But the state has always been attracted by the idea of creating its own money in addition to plundering directly the wealth of its subjects. Before the invention of paper money, however, the state was limited in money creation to occasional debasements of the coinage, of which it had long managed to secure a compulsory monopoly. For debasement was a one-shot process, and could not be used, as the state would always like, to create money continually and feed it into state coffers for use in building palaces, pyramids, and other consumption goods for the state apparatus and its power elite. |
| Quote: | | Whenever the central bank inflated itself into financial trouble, the government stood ready to allow it to suspend specie payments. |
We MUST get rid of the fiat monetary system that is robbing us blind!
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People can fight a tyranny imposed by an outside force. People cannot fight a tyranny that we impose on ourselves.
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luv2fsh&hnt
Community Organizer
Posts: 302
Join date: 2010-05-30
Age: 45
| | Subject: Re: Mercantilism and Inflation Thu Jun 03, 2010 2:03 pm | |
| I am not nearly as well versed nor am I as nearly motivated as you are to educate myself on this subject. That said it doesn't take a rocket scientist to come to the conclusion that currency backed by nothing is worth nothing. I would not want to carry around nuggets,ingots,or bars of any precious metal either. Perhaps the answer would seem to lay in laws and regulation prohibiting the gov't from printing currency that is not backed by precious metals or other commodities of value. |
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shotgunwill
Activist
Posts: 845
Join date: 2010-05-30
Age: 30
Location: West Ashley, SC
| | Subject: Re: Mercantilism and Inflation Thu Jun 03, 2010 7:50 pm | |
| This guy does a good job, check out his most popular posts on the left hand side bar. Love FSK.
http://fskrealityguide.blogspot.com/
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If people from Utah are Utahns, who are people from Tampa?
I want to do useful work and get paid, without having to report it for taxation, confiscation, or regulation.
Keep shooting.
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proutdoors
Lobbyist
Posts: 1059
Join date: 2010-05-29
Age: 45
Location: Gunnison Valley
| | Subject: Re: Mercantilism and Inflation Thu Jun 03, 2010 10:35 pm | |
| | luv2fsh&hnt wrote: | | I am not nearly as well versed nor am I as nearly motivated as you are to educate myself on this subject. That said it doesn't take a rocket scientist to come to the conclusion that currency backed by nothing is worth nothing. I would not want to carry around nuggets,ingots,or bars of any precious metal either. Perhaps the answer would seem to lay in laws and regulation prohibiting the gov't from printing currency that is not backed by precious metals or other commodities of value. |
I am no advocate of carrying precious metals around in my pocket either, I like my Wranglers tight damn it! A monetary system that is backed by precious metals that has notes that are backed 100% by the precious metal is what I advocate. That means no more banks practicing fractional lending, that creates 'money' out of thin air and devalues the notes. Inflation of the U.S. Dollar started AFTER the Federal Reserve was created under the POS Woodrow Wilson. It was held mostly in check until Nixon in 1973 put a knife through the heart of the free-market and officially took the U.S.A. off the gold standard. Since 1973, the rate of inflation has steadily accelerated and escalated to where we are now on the verge of one of two things, BOTH being very bad for the average Joe; stagflation or hyperinflation.
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People can fight a tyranny imposed by an outside force. People cannot fight a tyranny that we impose on ourselves.
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