Friday, October 30, 2009
The Gold Standard and the Great Depression
Krugman had been bashing gold for a while, so I rushed to its defense. Wherever there is a commodity in distress, I'll be there.
Comments:
Bob-
You're like a nerdy superhero. Keep it up! We need more of those. Lots more!
You're like a nerdy superhero. Keep it up! We need more of those. Lots more!
# posted by 
: October 30, 2009 at 11:54 AM
: October 30, 2009 at 11:54 AM 
Silas,
The "abandon your mortgage" stuff was in the original draft of my PIG to the Great Depression (written last January). It was murdered on the cutting room floor.
I read your comment on Krugman's blog and liked it.
I would argue that I therefore did not rip you off.
The "abandon your mortgage" stuff was in the original draft of my PIG to the Great Depression (written last January). It was murdered on the cutting room floor.
I read your comment on Krugman's blog and liked it.
I would argue that I therefore did not rip you off.
Some guy named Bob Stafford attacked the ABCT in the comments to Bob's Mises.org article. I responded with my usual "monetary dilution amounts to theft of purchasing power" argument here.
It's similar to "leaving the gold standard = expropriation = theft". I think we should always start off explaining that theft and fraud is all that a central bank can do and/or does. It is the truth and making that firm statement throws the statist off-balance right from the start.
It's similar to "leaving the gold standard = expropriation = theft". I think we should always start off explaining that theft and fraud is all that a central bank can do and/or does. It is the truth and making that firm statement throws the statist off-balance right from the start.
# posted by : October 30, 2009 at 7:45 PM
: October 30, 2009 at 7:45 PM
"Some guy named Bob Stafford attacked the ABCT in the comments to Bob's Mises.org article. I responded with my usual "monetary dilution amounts to theft of purchasing power" argument here."
You shouldn't have, it's not a very good argument.
You shouldn't have, it's not a very good argument.
# posted by : October 30, 2009 at 8:41 PM
: October 30, 2009 at 8:41 PM
"You're like a nerdy superhero. Keep it up! We need more of those. Lots more!"
Bob's more like a rockstar.
Bob's more like a rockstar.
# posted by : October 30, 2009 at 8:43 PM
: October 30, 2009 at 8:43 PM
Roddis, I think if you're going to respond to someone, you should keep the argumentation within the same discipline.
I would also argue that the moral issue with the central bank is that it is a monopoly. If people chose to hold their currency in a free market, then it wouldn't be fraudulent of them to dilute the currency (unless it went against their public statement).
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I would also argue that the moral issue with the central bank is that it is a monopoly. If people chose to hold their currency in a free market, then it wouldn't be fraudulent of them to dilute the currency (unless it went against their public statement).
# posted by : October 31, 2009 at 3:01 PM
: October 31, 2009 at 3:01 PM Subscribe to Post Comments [Atom]
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