|
paydayloansturbo (November 30, 1999 at 12:00 am)
Very informative
TheImmoderator (November 30, 1999 at 12:00 am)
This video has obvious bias.
ashwadhwani (November 30, 1999 at 12:00 am)
pls chk out this hiphop track for RON PAUL 2012 and comment like/dislikewatch?v=L9BtXMy-En0Earlier I had a crappy version of the same and it was doin well, but i deleted it and posted the better version and have no views even though i posted much more places, im workin hard for Paul, so pls if you approve of this message pass it along to hip hop loversRON PAUL 2012
TheBalancedAmerican (November 30, 1999 at 12:00 am)
@MrAdrius194 The difference between "Means of Production" and "Means of Exchange" is not easy to grasp, so I am sympathetic to your perspective. However, the distinction is paramount in understanding monetary frameworks. If you understand the difference, you'd know why gold is not money, it is a product/asset ;)I have studied Austrian theory and Keynesian theory. I think they're both wrong. =)
MrAdrius194 (November 30, 1999 at 12:00 am)
@TheBalancedAmerican Monetary policy has no place in a free society. Also, whose goal are you talking about? The only thing that matters in this case is that there is no new money being created ex nihilo. In order to maintain value/price stability, new money must be created, whether as high powered money by the Fed, or as debt through Fractional Reserve Banking. Either case creates unsustainable bubbles that must fail. You should study Austrian Business Cycle Theory.
TheBalancedAmerican (November 30, 1999 at 12:00 am)
@MrAdrius194 Do not confuse innovation and efficiency with "means of exchange." Money is a representation of a productive unit. In monetary policy, the only thing that really matters is the quantity of money in relation to productive output, not value or price. With inflation, the original productive unit becomes worth less. With deflation, the original productive unit becomes worth more. The goal is to have money be an accurate representation of reality. =)
MrAdrius194 (November 30, 1999 at 12:00 am)
@TheBalancedAmerican Incorrect, the value of money is just a price, like any other. There is no more reason to be concerned with it's stability, than to be concerned with the stability of computer prices. There is no more merit in your argument against prolonged deflation than there is in saying that there should not be a prolonged period of falling prices in computer technologies. Falling prices are merely the result of expanding mass production, improved efficiency, etc.
TheBalancedAmerican (November 30, 1999 at 12:00 am)
@tjtomkins One thing that you and I could probably agree on is the introduction of a competing currency. As a intermediary step, Ron Paul has suggested that we continue under Federal Reserve Notes, but introduce a gold or silver backed currency to compete with the Federal Reserve Notes. Although accounting would remain under the Fed notes, this would allow people to choose which currency they pay their taxes with, and easily preserve their savings. =)
TheBalancedAmerican (November 30, 1999 at 12:00 am)
@tjtomkins "I think you quite underestimate the ingenuity of the markets, my friend :)"From nothing, I created a profitable small business with over 40 employees. I understand the ingenuity of free-markets VERY well. ;)Btw, i have really enjoyed our conversations, most people are not adept enough to wage a reasonable debate. =) |
