I agree. It is most likely that the money manipulation problem carries with it a money manipulation solution. That can is showing a lot of dents from being forever kicked down the road. Trouble is, I wonder if I can see the end of the road from where I stand.
For curiosity, have you had any input from both people I admire on hard currency, George Reisman or for that matter Judy Shelton? I know it would be a harsh solution but wouldn't immediately allowing a free exchange of gold for dollars crater the manipulation of money as well?
The grave trouble that I see is there are so few that understand the problem and even fewer that honestly want to solve the problem. Tragically, it is the money system that is broken while we live in a time of unimaginable productive wealth that only impoverishes us by way of larky environmental restrictions.
I correspond with George now and then but not with Judy Shelton. I agree that a free exchange of gold for fiat money (by which you mean the ability to use gold as legal tender) would effectively end severe money mischief. That's why it's not happening! As far as the "end of the road," I cannot see it either. This raises the question, what if there is no "end of the road." What if we have a slow evolution to we-don't-know-what? I am continually amazed by the resilience of economies. Look at Argentine: a complete mess, yet life, and even a fair amount of productive activity, goes on. That's why I settled on "financial repression" as the most likely government policy. Letting inflation run while suppressing interest rates will disguise government theft while allowing a semblance of regular economic activity. And they will use our trusty banking system to do it!
I agree. It is most likely that the money manipulation problem carries with it a money manipulation solution. That can is showing a lot of dents from being forever kicked down the road. Trouble is, I wonder if I can see the end of the road from where I stand.
For curiosity, have you had any input from both people I admire on hard currency, George Reisman or for that matter Judy Shelton? I know it would be a harsh solution but wouldn't immediately allowing a free exchange of gold for dollars crater the manipulation of money as well?
The grave trouble that I see is there are so few that understand the problem and even fewer that honestly want to solve the problem. Tragically, it is the money system that is broken while we live in a time of unimaginable productive wealth that only impoverishes us by way of larky environmental restrictions.
I correspond with George now and then but not with Judy Shelton. I agree that a free exchange of gold for fiat money (by which you mean the ability to use gold as legal tender) would effectively end severe money mischief. That's why it's not happening! As far as the "end of the road," I cannot see it either. This raises the question, what if there is no "end of the road." What if we have a slow evolution to we-don't-know-what? I am continually amazed by the resilience of economies. Look at Argentine: a complete mess, yet life, and even a fair amount of productive activity, goes on. That's why I settled on "financial repression" as the most likely government policy. Letting inflation run while suppressing interest rates will disguise government theft while allowing a semblance of regular economic activity. And they will use our trusty banking system to do it!