Redefinitions From The Left

[Hanarchy Montanarchy]

Says the dude with the same financial suggestions as an infomercial or the Home Shopping Network.

Got any other hot stock tips old timer? I hear the Nevada silver boom makes can make a feller rich.

[Fife]

I wouldn't worry about it much if I were you. Check out some Netflix.

[Hanarchy Montanarchy]

Why?

You wanna chill bro?

[SuburbanFarmer]

TL;DR quick rundown of the debate level of MHF monetary policy discussions:

The last one might be a keeper.

Would smash with compound interest.

[DBTrek]

The trick to building a successful narrative is covering your bases. Make sure all divergent paths ultimately lead to the correct destination.

[C-Mag]

The trick to building a successful narrative is covering your bases. Make sure all divergent paths ultimately lead to the correct destination.

Several years ago I considered classifying myself on race as Other, and just put Eastern European. White or Eastern European would be correct. Had I done that, would I still be a Racist

[Okeefenokee]

TL;DR quick rundown of the debate level of MHF monetary policy discussions:

I thought I posted that weeks ago.

Maybe not.

Okay, here's one.

[Hanarchy Montanarchy]

This doesn't make a lick of sense.

Even if we were able to maintain our economic growth with our currency tied to precious metals (a dubious counterfactual), he seems to suggest that a minimum wage of 1.25$ would have 17$ worth of purchasing power today, blaming the FED for diminished wages. But why would the value of precious metals perform better than notes for exchange in a growth economy? The totem of exchange is irrelevant to the exchange value. I doubt the precious metal fetishists would support the price controls needed to make this videos claim comprehensible, much less true. All else being equal, this would simply devalue precious metals relative to goods, or cause people to be paid in ever decreasing increments of precious metal.

As for "fixing the currency" by reattaching it to precious metals: how is this supposed to be achieved? It certainly wouldn't improve the purchasing power of notes, it would only make tiny amounts of precious metals absurdly valuable compared to notes. This doesn't 'fix' anything, wage-wise. And before you metal hoarders go creaming your jeans at the prospect, there is absolutely no way the government would do this without purchasing back all precious metals from citizens at the current price, USD, before initiating this plan.

Not basing notes on precious metals doesn't make their value less real, or even inherently less stable. Exchange value is exchange value, and stability is based on confidence in future value regardless of the exchange or the medium of exchange.

[Speaker to Animals]

No, dummy. He's saying that minimum wage before they took us off silver coinage was worth what today is $17 because of the intrinsic value of the coins. Had we not removed silver from coins, people would have been melting our coins down for the silver since the silver was worth more than the face value of the coins due to the fact that the dollar is no longer tied to gold and the Fed has been printing so much of it it's value is actually declining. They HAD to remove silver from the coins so that we would still have coins at all.


The point he was making was that the value of your money keeps declining, and you are being robbed by-the-by through the bankers printing their funny money nonstop, which they couldn't easily have done before.

It really doesn't matter in principle what you tie the value of a money to. The idea is that you want to tie money to something with intrinsic worth so that the government can't fuck you right in your cucked asshole with "quantitative easing". You probably want something that is not perishable, but I have seen some proposals that want to base it on other commodities besides precious metals. In general, you want to use commodities whose total supply remains relatively fixed or, if it can grow, can only grow in a controlled fashion. Bitcoin gets the latter point right, but alas, prime numbers have no intrinsic value so that's a wash.

[Hanarchy Montanarchy]

I understand that. It is stupid.
The coins have no intrinsic value. Only exchange value.
The value of money can decline regardless.