Posted on 12/28/2019 8:41:26 AM PST by Steely eyed killer of the deep
Some critical thinking here, the author dissects "inflation" then concludes we need crypto currency
save for later
A free market in money — which would be tantamount to putting an end to central banks’ money production monopolies — is actually easy to establish. Just strip the official currency of its privileged “legal tender” status and remove all capital gain and sales taxes on all media that stand an excellent chance to compete for becoming currency — most notably gold and silver but potentially also crypto units.
A free market in money will work wonders. Many of the evils that haunt our world today — be they chronic price inflation, financial and economic crises, boom-and-bust cycles, and even over-funded governments and aggressive wars, would be greatly reduced. One of the biggest challenges of our time is to reform our money. The solution is to open up the market in money.
But...............................
1) Life goes on with restarts
2) Restarts are chaotic.
3) Think about what the year of Jubilee was in the Bible. Maybe God had it right.
Re
“The Wealth Redistribution Scam that Is “Inflation””
++++++++++++++++++++++++++++++++++++++++++++++++++++++
But by whom??????
*****
The Usual suspect, of course!
GyG@PlanetWTF?/WNW!
SemperTRUMP.45!
*****************
Re
“The Wealth Redistribution Scam that Is “Inflation””
++++++++++++++++++++++++++++++++++++++++++++++++++++++
But by whom??????
*****
The Usual suspect, of course!
GyG@PlanetWTF?/WNW!
SemperTRUMP.45!
*****************
Inflation is wealth distribution in reverse - stealing from the poor, workers and savers, and giving it to government , its cronies, and large asset holders
Delusional Lying Leftist Wealth Redistribution: the politicians get rich & everyone else gets equally poor.
Cryptocurrency is nothing compared with this tulip bulb I just traded the house for.
Brian Kelly, Brian Kelly Capital founder, discusses why bitcoin is taking such a big hit today. | Crypto prices get crushed after China cracks down on bitcoin | Published on Nov 22, 2019 | CNBC
Crypto currencies are at best a joke. At worst, they are a corrupt scheme for tax evasion and money laundering by gangsters and organized crime. They are also highly vulnerable to manipulation by price rigging traders. Governments, if they are so inclined, could effectively shut them down with little effort. I see no upside to them except on a purely speculative basis, and I see a lot of downsides. Beyond which, they are largely a figment of the technological imagination. Which is to say, they doesn’t really exist.
For those seeking a hedge against the knavery of central bankers and politicians, gold and or silver have always been the best choice. They are real commodities with a thousands of years of history as a store of value. They cannot be printed or created with a push of a button. And they can be stored outside the reach of the government if needs be.
HOLY COW!!! I remember when a xpost from MISES would get you a rebuke from the mods that “we don’t use Mises as a posting source here”... if you were not just summarily zotted.
THANK YOU DONALD TRUMP!!! YOU HAVC SAVED CONSERVATISM FROM ITSELF!!!!!
I do believe some combo of crypto and hard asset backing is the future of money........
LET’S BRING BACK THE 5 CENT CANDY BAR
When politicians particularly members of today’s in name only democrat party started pushing for a higher minimum wage. The focus should have been on purchasing power of the lowest coin of the realm. Each time it was passed the price of an item like an individual candy bar and everything else increased. What began at 5 cents in the 1940’s steadily increased to what it is today. The result has always been since it began devaluing the purchasing power of the dollar.
I have a 1957 US $1 silver certificate.
In a barter-only economy, there is no inflation. When government-issued money is used, inflation is built into the system.
Putting an end to central banks’ money production monopolies is a good idea, but won’t happen. Governments create a central bank and pretend that it is not run by the government. The purpose of the central bank is control over the value of the currency, and to issue currency from time to time precisely in order to devalue the currency.
A free market in money sounds good, but the “money” will always be quoted in dollars or some other government-issued currency, which is being inflated by the government.
The ability to speed up or slow down inflation is crucial to the government. By devaluing the currency, it reduces its debts, and allows it to adjust benefits for inflation while claiming that it is raising benefits. Inflation destroys savings, punishing hard work and making retired people dependent on the government.
And then there’s inflation inflation. A Chinese takeout meal which cost me 14.00 in 1985 went for 50.00 yesterday even though the CPI inflation calculator says it should have gone for 35.00. Prices hereabouts are supposedly held down by the fact that there is a Chinese takeout place every 4 feet. Actually the next place after the one I shopped is 600 ft in a straight line west. Go figure.
Yep. Let people decide what currencies they will accept be it gold or scrip from Bob’s Bait and Trust
A little buyer beware might go a really long ways to educating our populace
The Central Bank is going nowhere, but it does serve as a good boogie man excuse for people. People have started out with nothing and become wealthy all the way through Central Bankers, the FED, fiat currency and every other dire boogie man holding everyone down.
Blockchain has a future. Crypto will have a future only after it has been co-opted by the system.
“And then there’s inflation inflation. A Chinese takeout meal which cost me 14.00 in 1985 went for 50.00 yesterday even though the CPI inflation calculator says it should have gone for 35.00.”
You can thank about 50 times more government regulation for making restaurant and take out food for costing more than the overall inflation rate. What’s interesting is that those regulations don’t apply to us at home...so the price difference between eating at home and eating out continues to increase.
...and that doesn’t even account for the fact that eating out while on the Keto diet is next to impossible, since the Left hasn’t (yet) approved of people eating that way (regardless of how sick they’ve gotten eating the ‘approved’ way).
I remember buying Bazooka gum decades ago; it had gone from three cents to five cents, and they cut out segments (so the piece was smaller than the package would indicate).
I also remember an astute FReeper posting a picture of two packages of the same toilet paper side by side; they had narrowed noticeably.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
