Discussion in 'Economics' started by Debaser82, Jul 14, 2011.
Good text on why there should not be a gold standard and why gold is not money.
http://www.martinarmstrong.org/files/Outlook for Gold 07-13-2011.pdf
Money is whatever people accept it is. At one time money was sea shells, feathers, tally sticks, beaver pelts - things of ubiquitous value that weren't easily gathered or counterfeited. No one person can arbitrarily declare what money is or isn't, unless Government steps in and decides for us through law. It's then money ceases to maintain it's intrinsic value and becomes fiat trash, essentially so Government can deprive us of it's value and hoard it via theft. Without money printing, Governments and Banks would lose their most coveted ability - seigniorage. Printing paper notes robs savers at the hands of bankers and Government who hold a monopoly on counterfeiting the nations currency. The ultimate scam.
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