Originally Posted By: sini


I also don't recall you sacrificing virgins to Satan. Is that suppose to qualify you as a moderate?


Who ever said I was "moderate" ? Thats a completely subjective term anyhow, all I find silly is when you pretend or assume I support X when its not the case.

Quote:

Interesting read, but "The state-wreck originated in 1933, when Franklin D. Roosevelt opted for fiat money" is stretching it.


Not stretching it, though the real issue goes back to the formation of the Fed itself as seen with Ben Strong creating the bubble that led to the Depression. Of course FDR further entangled , and then Nixon abandoned Bretton Woods entirely opening the path to Reagan style deficits and setting the stage and current mentality leading to the present clusterfuck we find ourselves in.

The fact that it is still obviously possible to completely screw up a metal currency does not mean that fiat currency is a great idea. But rather, fiat current opens up a whole new and unnecessary playground for mischief.

When you hear modern proponents of standards based currency talk, its not about the ideal of backed currency in of itself as the ideal but rather and additionally a particular philosophy and methodology for managing backed currency.

It is true that some govt have in the past even imposed deliberate deflationary policies and attempted to deflate a currency to peg to a certain measure of gold - like what Japan tried in an example you pointed out recently - however that has been known to be a boneheaded move since at least 1880.

The goal is stability, and trying to force one direction or another never ends well.

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)