Investing in precious metals 101

Re: Our financial solutions are right in front of us if we …

Home Forums DISCUSS General Discussion and Questions Our financial solutions are right in front of us if we take the time to look… Re: Our financial solutions are right in front of us if we …

  • Thu, Jul 23, 2009 - 04:48am

    #20
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1611

    count placeholder

    Re: Our financial solutions are right in front of us if we …

They loan it into existence in order to create a cost for the money.  That’s one of the problems of fiat money that central banking attempts to solve.  It has no inherent value, so they have to imbue it with value by lending it into existence.  If the government simply printed all it wanted whenever it wanted, the system would be even worse.  I am no fan of the Federal Reserve or any Central Banking mechanism that centralizes the creation and cost of money.  However, a fiat money system not based on debt is based on even less than the nothing that debt-based fiat money is already based on.  I’m sorry, but I just don’t see how that would be any better.    I guess you could call it the "Seinfeld" system.  

If you think the government would use it "to the benefit of the people" I believe, with all due respect, that you must be deeply naive.  Maybe if you were in charge, it would be used to the benefit of the people, but if history is any guide, governments and the ability to create money is akin to a kid in a candy store.  They would use it to pay for multitudes of un-fundable promises, drive inflation through the roof, wage war, and who knows what else.

The concept of the Constitution, that being, that it is a negative document – detailing not what the government can do, but what it cannot, is how we should seek to design a new monetary system.