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Geolibertarian Says:

July 21st, 2010 at 3:38 pm
Despite what the monetary flat-earthers and ideological snake-oil salesmen from the Austrian School want desperately for everyone to blindly believe, the problem with the current money system is NOT the material of which our money is composed — nor the material by which it is or isn’t “backed” — but

(a) the fact that it’s all created out of DEBT via fractional reserve lending; and

(b) the fact that the money needed to pay the interest on all these loans is never created in the first place (which means there’s actually a built-in SHORTAGE of money).

For more on this, google and watch the documentary films, “Money As Debt” and “The Money Masters”.




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http://forum.prisonplanet.com/index.php?topic=97109.0

the reality of the situation is that tarpley has a far more realistic approach then the malthusian genocidal austrian insanity of allowing the entire system to collapse i.n order to obey the pure trickery posed by the snakes at the austrian school. What the austian school proposes is we take the economic expansion of 7 billion human beings and collapse it by pegging it to a piece of metal and strangulating the economy of currency to develope a sustainable amount of infrastructure that their beloved free markets are utterly INCAPABLE OF BUILDING...Thereby depriving billions of PEOPLE Of basic needs like CLEAN WATER TREATMENT PLANTS For example. you think the maglev is a waste ? go read a history book about what the intercontinental railway did in the 1800s. Austrians see any activity for general welfare of humanity as a waste while they NEGLECT THE FACT That modern capitalism is not possible without modern infrastructure.

-Revolt 426


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You cant have it both ways. You are either an Austrian or not, you cannot say "OH, Glass Steagall was needed but everything else isn't" and then say "OH social secrurity is bad but it would be rolled back LAST", "Oh, Derivatives are bad but everything else is ok".

You double speak quite often in regards to Austrian teachings, which are essentially the Government is the enemy and cannot under any circumstances build anything for the General Welfare of the population nor regulate the infallable economic system that will never fail so long as the enemy, Government, stays out of it.

Glass Steagall alone proves the Austrian school is complete hogwash but we can go deeper into the matter if you wish.

As for the Greenback, if the currency was ISSUED by INVESTING it DIRECTLY into INFRASTRUCTURE it would have LABOUR attached to it - as opposed to a PIECE of METAL - and infact - you're Gold Standard policies have utterly FAILED numerous times in U.S. History, let's start with the Brilliant Andrew Jackson who blew half the countries wealth by disintigrating a currency?


No absolutely not, you worry about inflation - do you realize that if a Gold Standard were implimented you would slave for the rest of your life to pay a few Thousand dollars worth of debt off via the biggest Deflaitionary HELL ever experienced?

You would literally be a slave for the remainder of your life

How about the Great Depression? we were ON THE GOLD STANDARD prior to FDR taking office , did it stop printing of money? No, 100 Billion dollars in Gold Redeemable currency was issued by a PRIVATE bank (Hey hey Private, the Austrians love it) when the FED had 4 Billion in it's reserves.

It is dumbfounding that someone can possibly argue for further de-regulation after witnessing what the PRIVATE SECTOR , not the GOVERNMENT, did in regards to creating 1.5 Quadrillion dollars of ficticious capital.

It is even further dumbfounding that one would argue an investment into a maglev for instance, which would triple the speed of Trade Transit and cut the cost in half - to argue that it is worthless?

You want the Austrian School policies, go impliment them in the United Kingdom, and here in the U.S. we will use the American System, that was founded under our first President and Treasury Secretary - then we will see whos economy expands and who returns to the stone age.

The audasity of even suggesting pegging 7 Billion souls economic opportunities to a Domestic Gold Standard is in itself suicide - you may has well do what the Japanese do and take a katana and gut yourself, because that is exactly what the result would be if we follow the "The Government cannot interfere, let the system collapse and put it back on the gold standard policy" - which would result in Martial Law due to a complete economic failure on tune with the Lombard Collapse of 1342.

You want disease, plague , deflation, poverty and genocide? then allow the bubble to explode and let the whole system collapse, as if there would be a functioning currency after such a thing happened for the "Solvent" banks to buy up the "Insolvent" Banks, when in reality nearly all the Commercial Banks in the world, which nearly all businesses in the world depend on , on a daily basis, are 100% Insolvent.


-Revolt 426