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Wow, can't believe I missed this and it only got one response. Rothbard was a great economic historian, you can refer to the following works, available at Mises for free in various digital mediums and in print at the Store. America's Great Depression Free: http://mises.org/rothbard/agd.pdf Print...
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@ meambobbo What a fantastic and highly detailed response. Thank you kindly, your time and knowledge is very much appreciated . There is a lot to 'chew over' in those replies! Allow me some time to crunch up those points in my mind and I'll get back to you with some more questions if need...
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Point taken. However I'm not debating the form and makeup of a state, or indeed the virtues of anarchism! What I'm curious about is whether or not the core economic issue is the violent enforcement of a monopoly on currency ( by the state ). Fine, get rid of the FED - let the state control money...
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@ meambobbo Great post, just curious... So... perhaps what might be ideal is a completely open, free-market competition in actual currency? Gold, silver, paper money (backed 100% by X Y or Z) or e-gold, diamonds, vintage cheeses (joke!) or whatever the free-market innovates and finds most convenient...
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I still don't quite see the point in switching to a 'gold standard' at all. Why not completely abolish the enforcement of a monopoly on any single currency, be that pure gold, gold-backed, silver, fiat etc? Why not just have open competing currencies and let the free-market decide which is...
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I was having an arguement with this person saying that people have a misconception about inflation because they think that inflation will rob him of his purchasing power of his hard earned money. So that when the prices rises, your dollar will buy fewer goods so it might seem that it lowers living standards...
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I was thinking this afternoon mainly about banking under anarchy. Say I start an account with a bank,but with no gov't ID's, what would prevent others from withdrawing in my name???? Would the bank begin to issue ID cards or have fingerprints on file??? I don't know if this has been discussed...
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[quote user="donmc"] Also, the main reason that the fed lowers rates is to increase borrowing and thus increase spending/consumption (to "stimulate the economy" in news fedspeak). [/quote] Note that this is a smokescreen put up by John Maynard Keynes in 1935, well after the Fed was...
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In the midst of our economic slowdown, the U.S. Treasury Dept has issued what they are calling the "Blueprint for Financial Regulatory Reform". The highlights, as given by an article on Yahoo!'s website , are as follows: --designate the Fed as the primary regulator for market stability...
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This is a new intiative by the FED: "These arrangements will now provide dollars in amounts of up to $30 billion and $6 billion to the ECB and the SNB respectively," the Fed said, extending the term of these swap lines through Sept. 30. Can someone elaborate on this for me? Will this make a...