Sunday, May 14, 2017

Using government insured currency

We can see the base rhetoricians in action whenever they talk about taxation, suggests Sheldon Richman. From the terms of their discussion, you would never know that the money in question actually belongs to particular individuals, who obtained it through voluntary exchange or gift. Rather, the terms suggest that it belongs collectively to society, with the government being its agent of distribution. The only question, then, is: what's the fairest distribution?

Reason Staff wrote this with little thought to the idea of monopoly government money. When government cannot pay out the claims, the government banker buy treasuries, and clears the government obligations. This is socialism, and thus means that all the central bank money is worthless, and the Reason staff in their ignorance comes out as yet another group of welfare bums.

I hear this crap all the time, from both libertarians and conservatives.  At least the kanosians know they are cheating.  Money is not a standard, it is a distributed pricing process.  It is not what money is used, it is the number of things needing pricing, and if they need pricing, we will price it; using other money as necessary.  Hence, the central bank money is worthless crap as long as we have bankrupt senators.

No comments: