[AdamSelene235]

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[egarvue]

Aaah, yes, another fiat money/gold standard/federal reserve article here at Free Republic, brought to you by the good men who get paid by the word.

[bvw]

That our money is by being fiat and debt-pillared, debit-foundationed is the greatest wall to our liberty. It is at best a benign socialist's wall, at worst a tyrant's. In the US that we have always been closer to the former is a blessing. It's not a blessing we best count on, or should rely on, or come to accept as the best of all worlds. It is a degraded state of affairs. Not one we should accept forever.

Hard money, like fulsome Liberty, full Liberation, is state of existance that quickly and harshly marks all moral and ethical accounts to market. Fiat money, soft money, is never so harsh -- while it can be the whip of tyrants and the wall of a slave's prison, fiat money doesn't cut through or hammer to bits and dust like hard money does when used by the selfish, the theives, the delusional.

Only a few generations of our Nation knew this full Liberty -- but full Liberty was scary. We were too corrupt to stick with it in good use, and yet not heartless enough to stick with it anyway. So we dropped back to this slave's condition, less responsible, and less harsh in accounts for that. Let us have strength, seek good and mercy and be honest in all dealings, and then we may again achieve that higher state, over the walls, once again returning to the City of Liberty.

[fourdeuce82d]

In the United States neither paper currency nor deposits have value as commodities. Intrinsically, a dollar bill is just a piece of paper.

And intrinsically, gold is just a heavy yelowish metal that looks pretty, conducts electricity well, and is much to soft to make tools from. So what?

Isn't value, in the end, a human construction?

[Mr. Quarterpanel]

I am STILL trying to figure out what the author is getting at.

While the salient points offered are true, there is much interpretation going along with the stated points. The main reason that money has value (fiat of not) has to do with the availability of it for loans, the ability of said loans to be paid back, and the confidence that the money will be available to pay it back. To strip the value from the current system WILL cause economic collapse worldwide. The coin of the realm in the world is the mighty US buck. To return to a "hard currency" (like gold) would place money out of reach from the average citizen, and price volitility for comodities would prevent a stable economic situation from developing for a long time, if ever.

You can post 1000 word chapters outlining the situation (sort of), but the truth is, a stable currency is what helps keep the price of comodities reasonably stable. Before the current situation, economic depressions were commonplace. The price of oil is a good example: talk of war, and the price jumps $10. Without the mediating effects a stable currency, that price jump might be $50-$100. Enough to bankrupt every airline, and most bulk carriers around the world. Without those, other businesses then can't do business, and the cascade continues until: economic depression.

But this is just my .00002 oz of gold's worth.

[antidisestablishment]

Hmmm... seems like the author is taking the evil fiat money in return for his book. What's up with that?

I've got no problem with people who propose that our banking system is immoral, illogical or even illegal, but why is it they all seem willing to take the very notes they demonize? If they want to be believed, they need to start with their own finances and leave us fools to deal with our worthless paper.

[Porterville]

Not a solid arguement, the boom bust cycle, growth and contraction, is on an ever increasing slope. If the cycle existed on a linear plane of existence, we'd still be livin' in 1930 era conditions....We learn, we push forward to new relms, we retract to reflect on what has been learned and to cut the waste, then we move on up the grade, pushing forward.

Even gold is only worth what people want it to be worth.

[BureaucratusMaximus]

I screw the Fed...I'll be debt free (except for the mortgage on my house) before the end of the year.

[Pagey]

Read this Book Later Bump

[justshutupandtakeit]

Still pushing this crap?

There are dozens of mistakes, misunderstandings and outright falsehoods in this quotation. It would take weeks to correct them all and wouldn't stop you from posting the same article the next day.

[GSWarrior]

Bump