As in that same "nearby thread", this ridiculous assertion has been gutted.
You boys are running out of material. There's always laxative you know. A good cleaning out might allow some fresh air in. Otherwise, we'll have to contend that you're full of krap.
Have you ordered "The Ethics of Liberty" yet? They have it at The Mises Institute bookstore.
"It does well as a currency for exchange of goods and services..." But always only in the short run. Longer term the fiat always loses relative value.
The Marxists will disregard reality.
Either capitalism or socialism—there exists no middle way. -- F.A. Hayek
There can be no government intervention into economic actions that does not cause a disturbance in the underlying economic activity.
They didn't try to confiscate the silver, though, which still circulated and still served as the legal foundation of the money.
I agree that the founders understood the importance of specie money. Not only was it an honest form of exchange, i.e., value for value, but it served to restrain government as well because it was limited in deed and action by that which could be taken from the people through taxation. Too much taxation and the people may well have rebelled yet again. But the Rothschild's scheme of debasement (theft by deceit) has largely gone unnoticed even still today.
But worse still, we have ill-informed monks from the Church of Fraud & Disaster preaching the blessings of fraud money.
Yet another Marxist has descended upon the message board like the vultures they are.
"I'm a little embarrassed about how long it took me to see the folly of most government intervention. It was probably 15 years before I really woke up to the fact that almost everything government attempts to do, it makes worse." ~ John Stossel
I would urge you to lay down "Das Kapital" and pick up Murray Rothbard's "The Ethics of Liberty. Once you absorb it, you'll want to use Marx's work to wipe your hind end.
I see the collectivists have another recruit. Foolishness knows no bounds. There's obviously no understanding.
Having no government doesn't translate into "libertarianism". To even suggest such shows a miserable failing in even understanding the term and probably a devious conspiracy to attack a mere word unjustly.
The concept of libertarianism is founded on the ideas that we all own ourselves; that we are equals with equal rights. Moreover, it is predicated on the non-aggression principle. None of that existed in Somalia so you obviously do not understand what you have chosen to rail against or have a misguided agenda.
Do you now understand how utterly stupid your assertions are?
You and you ilk, obviously working a conspiracy, are a waste of bandwidth and human flesh. You should end it all and our suffering with you in the bargain.
First of all, think Keynesian for a moment. Yeah, I know, it's a repugnant thought, but they did hold that the ends justifies the means, didn't they?
I see no correlation between gold confiscation and the Japanese attack at Pearl Harbor. FDR intended (desired it greatly) for that to happen and accomplished it by cutting off resources to Japan, but in particular oil. He literally backed Japan into a corner.
I think that the gold that was turned in, but only "persons" were forced to do so (look up the legal definition) was given to the FED as collateral. I also think that they were given at least a portion of the gold from Fort Knox (where else did the FED get the inventory of gold that it now holds?).
"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists."
One of the first signs of wisdom is to call things by their proper name.... When I sees a fraud I calls it a fraud.
Get your time machine out and carry him back to the days when they taught considerably more truth than they do today.... then leave him there.
The fact that my Money & Banking professor made sure that i understood the fraud is good enough for me. But he couldn't overtly preach that message. He conveyed the truth through examples and allegory and he made the point well enough that even slowcoaches here would catch on after a little while.
What you support is much more like an evil religion, one complete with sacrifices.
If you go inside the Federal Reserve Bank in Atlanta, they have a museum. They acknowledge right there in the bank on Peachtree that the Federal Reserve System was created at a secret meeting on Jekyll Island.
Sounds like a conspiracy to me my little buckaroos.
Maybe you should read "The Creature from Jekyll Island" by G. Edward Griffin. I've been there and have spoken with the author at length.