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Post by Lol" on Jun 9, 2023 4:20:23 GMT
I quoted from Miles' paper at covidandvaxfaqs.substack.com/p/great-awakening-movie-fraudIt would be nice if he and others would read up on monetary sovereignty like at mythfighter.com to see that Mises and other conservative economists are all wrong (intentionally) about much of economics. The gold standard never made stable money and what's called national debt is actually the money supply and inflation is caused by shortages, not printing money. Printing money stimulates economic activity. |
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Michael
Really good at convincing us he’s not a bot
Posts: 224
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Post by Michael on Feb 20, 2024 12:53:52 GMT
Printing money stimulates economic activity.
IMO, your statement raises a lot of questions. Like;
who gets the money once printed?
is the printed money debt?
and, if so, what is the long term impact of this debt?
does printing money devalue the currency?
and if so, it "steal" value from the holders of the current money, is this fair?
or, a necessary evil?
who gets to print it?
is central bank printing, merely a fig leaf for the failure of the credit system (private credit) that is the primary driver of increased money supply?
should we not be looking to control the banking industry (with particular reference to fractional reserve banking), as this cause the "credit crunch"?
is stimulating economic activity a good thing?
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Michael
Really good at convincing us he’s not a bot
Posts: 224
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Post by Michael on Feb 20, 2024 13:03:46 GMT
I would disagree that a "gold standard" does not make stable money. I would suggest that you can't have a "gold standard" with a fractional reserve credit system. Though we might be running into issues with definitions here.
Gold backed currency properly policed would limit credit and increase risk (as the lender is risking losing their capital)
A gold standard used to set the exchange rate of money i.e x$ = 1 oz of gold, provides stable exchange. I think this would still control lending as it makes it a more real risk, but not in the same way as limiting fractional reserve. Though TBF, I have never quite got my head around this issue, because if it does work then it wont' happen so there is no point in working it out (that and I am not that capable of working it out).
On an aside I think gold reserves are massively manipulated in the other direction than is common. I think there is loads more gold than we are told and the "shortage" is there to drive gold mania. Allowing gold hoarders (usual suspects) to sell tiny amounts for huge amounts.
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