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Most folks are not into economic logic, because it is intangible, complex and time consuming. Even economists have short attention spans for economic theories of others. The "mind cliques" here on FR regularly issue "talibanesque" responses to most anything that causes them to read economic logic that hurts their mind. It is ironic that conservative economic theory is so widely trashed on a conservative forum. But, the same thing happened when some people tried to call attention to the stock market bubble. Conservative social, conservative moral, conservative political, conservative patriotic and conservative economic thinking may not always be best, but it has worked well. There is absolutely nothing wrong with your article - except the "mind cliques" want you to ignore classical economic theory and accept their liberal logic.

This whole argument of fiat verses tangible "money" reminds me of the childhood story, Three Little Pigs." Except in real life, the wolf is trying to explain to Practical Pig why he should build his house out of straw like his lazy party loving consumption oriented brothers.

The "mind cliques" here on FR regularly issue "talibanesque" responses to most anything that causes them to read economic logic that hurts their mind.

I agree. Most of them think, "Well, Thomas Jefferson was and IDIOT. What did he know about money and banking? Keynes was the architect of today's economic prosperity."

When all is said and don, Thomas Jefferson will be hailed as a GREAT ECONOMIST finally when elitist bankers from COUNCIL ON FOREIGN RELATIONS and TRILATERAL COMMISSION have finally achieved their aim of distroying our economy by running their FED RESERVE printing presses at MACH-10 speeds.

"It is a [disputed] question, whether the circulation of paper, rather than of specie, is a good or an evil... I believe it to be one of those cases where mercantile clamor will bear down reason, until it is corrected by ruin." --Thomas Jefferson to John W. Eppes, 1813. ME 13:409

Thomas Jefferson on Politics & Government

Thomas Jefferson on Money and Finance

Where does gold derive its value from? Where does a fiat money derive its value from? Does either one have an inherent protection from volatilities that may result from a change in the demand to use either as a means to facilitate transactions? Even if gold is granted its empirical standing as a valuable commodity through the demand for it, what happens when the supply of gold is increased greatly due to a major finding?

You are absolutely correct, economic analysis is indeed complex.

See post #6, posted eight days ago! I saw Nanak coming.