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Old 03-11-2010, 11:06 PM   #4
Avalon Senior Member
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Default Re: ... on debt as money

Blessings Fred,

Yes the 'Money as Debt' video series has been posted to Avalon or Camelot before, it's very good.

Note to Peace & Love;
I you don't know of it already, Lew Rockwell's site is one of The Best (INHO) on "real" financial thinking, and also re. the politics of freedom.
I LOVE Lew Rockwell as much as I LOVE Ron Paul, another Austrian School of economics scholar.

Did you mean (IMHO)?


The Gold Standard

Mises Daily: Thursday, March 11, 2010 by Ludwig von Mises

[This article is excerpted from chapter 17 of Human Action: The Scholar's Edition and is read by Jeff Riggenbach.]

Men have chosen the precious metals gold and silver for the money service on account of their mineralogical, physical, and chemical features. The use of money in a market economy is a praxeologically necessary fact. That gold and not something else is used as money is merely a historical fact and as such cannot be conceived by catallactics. In monetary history too, as in all other branches of history, one must resort to historical understanding. If one takes pleasure in calling the gold standard a "barbarous relic,"[1] one cannot object to the application of the same term to every historically determined institution. Then the fact that the British speak English and not Danish, German, or French is a barbarous relic too, and every Briton who opposes the substitution of Esperanto for English is no less dogmatic and orthodox than those who do not wax rapturous about the plans for a managed currency.

The demonetization of silver and the establishment of gold monometallism was the outcome of deliberate government interference with monetary matters. It is pointless to raise the question concerning what would have happened in the absence of these policies. But it must not be forgotten that it was not the intention of the governments to establish the gold standard. What the governments aimed at was the double standard.

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