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A World that Operates by Financial Cheating and Unsound Money Is Doomed
Please consider A World that Operates by Cheating Is Doomed
In ages past, gold and silver provided humanity with a system of economic co-operation among productive humans, which was fair to all participants.
With gold and silver, humans were trading value-for-value: what changed hands were amounts of physical gold or silver, or at least, Bills which were unquestioned claims upon gold or silver.
When the exchange had taken place, everyone was happy! The seller because he had gold or silver, in exchange for the goods or services he offered; and the buyer was pleased because he had the goods or services he wanted, and he got them by tendering gold or silver in exchange.
So, everyone was pleased: the buyer because he got the goods or services he wanted, in exchange for his gold or silver; and the seller was pleased because he traded the goods or services he had to offer, tor gold or silver.
Under the present monetary system, there can be no justice or “fair trading”, because all the World’s MONEY IS FAKE MONEY. No money in today’s world is gold or silver, nor does it represent an unquestioned claim upon a stated amount of gold or silver.
And a gigantic shooting war will mark the end of our times, as a result of the cheating involved – all because fake money was forced upon humanity.
No Consequences, Yet
Except in isolated hyperinflation cases, governments have learned there are no consequences to the ruling class (at least yet) for unsound money.
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When Money Dies: Germany and Paper Money After 1910 – Marcia Christoff-Kurapovna – Mises Daily
When Money Dies: Germany and Paper Money After 1910 – Marcia Christoff-Kurapovna – Mises Daily.
The story of the destruction of the German mark during the hyper-inflation of Weimar Germany from 1919 to its horrific peak in November 1923 is usually dismissed as a bizarre anomaly in the economic history of the twentieth century. But no episode better illustrates the dire consequences of unsound money or makes a more devastating, real-life case against fiat-currency: where there is no restraint, monetary death will follow.
“It matters little that the causes of the Weimar inflation are in many ways unrepeatable; that political conditions are different, or that it is almost inconceivable that financial chaos would ever again be allowed to develop so far,” wrote British historian and MP Adam Fergusson in his 1975 classic, When Money Dies. “The question to be asked — the danger to be recognized — is how inflation, however caused, affects a nation.”
The US Federal Reserve of 2014 is not the Reichsbank of 1914. Yet today’s policy mindset is dangerously reminiscent of the attitudes that helped to excacerbate the economic downfall of inter-war Germany. These include: the unrestrained financing of budget deficits under war and post-war conditions; the unaccountable creation of the money supply by a central bank; the creation of undisciplined credit linked to this expansion of the money supply; the aggressive inflating of asset values; the discounting of short-term treasury bills and notes in practically unlimited amounts; rapid currency depreciation, and a ratio of federal debt to GDP over 100 percent.
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