Leaving the gold standard has been a disaster for the working class (i.e. anyone who has to work for a living)
Why does the state have a monopoly on money?
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Re: Why does the state have a monopoly on money?
#12The article puts it very succinctly:
> As people like David Glasner have pointed out, the idea that the state monopoly on money is really about emergency financing for things like wars can also help us to understand why counterfeiting has historically been treated as treasonous.
Gave me a new perspective on money: as being a weapon of war. Of course it's not the only use of money but it does give food for thought.
Re: Why does the state have a monopoly on money?
#13Because we don't want people like Giancarlo Devasini, Alex Machinsky, Sam Bankrun-Fraud, Vitalik Buterin, Changpeng Zhao, Saint Saylor and others to govern our money. That's why a lesser evil is used - the state.
Hence the gold standard
Re: Why does the state have a monopoly on money?
#14Because we don't want people like Giancarlo Devasini, Alex Machinsky, Sam Bankrun-Fraud, Vitalik Buterin, Changpeng Zhao, Saint Saylor and others to govern our money. That's why a lesser evil is used - the state.
Hence the gold standard
You should read about it a bit more if you believe that would help protecting against banksters and private money.
Re: Why does the state have a monopoly on money?
#15A monopoly was developed because it's easier, and I'm sure that's why there isn't anywhere in the developed world that successfully made use of multiple currencies, or private printing of the dominant currency. For example, the American colonies operated without standards for the first few decades and it was a huge pain in the ass for everyone:
Re: Why does the state have a monopoly on money?
#16In the past there was a thing called company scrip. It was a big problem. State issued money sure as been a lot better.
That said, states do not have a monopoly on money. Ever heard of Robux? Gift cards? Airline miles? Arcade tokens? Credit card reward points? There are a lot of other moneys in our society even if you ignore bullshit crypto coins.
Theoretically these other currencies are pegged to the dollar, but not really. Even gift cards, which have a value expressed in dollars, have a different value. Sometimes the value is increased because they are untrackable dollars that can be used for scams/crime. The value and desirability of goods and services offered by the company that issued the gift card also affect its value.
Would you trade a $1000 Apple gift card for a $1000 Applebee’s gift card? Would you buy a $1000 Apple gift card for $1000? Would you buy an Applebee’s gift card for $1000?
Re: Why does the state have a monopoly on money?
#17Leaving the gold standard has been a disaster for the working class (i.e. anyone who has to work for a living) https://wtfhappenedin1971.com/
Try again. Reaganomics and government interference to destroy the labor movement did significantly more damage. Bailing out failed corporations instead of the people they cheated did significantly more damage. Hell, irregular trade policy when there is a fragile supply chain has done more damage to working class people in the us. The working class, by design, was/is too cash poor to give a crap about what cash was based on.
Re: Why does the state have a monopoly on money?
#18Because we don't want people like Giancarlo Devasini, Alex Machinsky, Sam Bankrun-Fraud, Vitalik Buterin, Changpeng Zhao, Saint Saylor and others to govern our money. That's why a lesser evil is used - the state.
Not just crypto too. Back in the day banks issuing their own gold promise notes didn’t end well because once you can promise you can make false promises. The government can also do that and some countries currencies have collapsed but in general it is fairly solid! Inflation aside.
In bitcoin (not crapto which is 99.99% scam) you can't make false promises and definitely can't "govern" bitcoin. Not even the charlatan "Saint Saylor". This is a huge difference.
Re: Why does the state have a monopoly on money?
#19Earlier quoted context omitted.
Hence the gold standard
You should read about it a bit more if you believe that would help protecting against banksters and private money.
Plenty of actual data to suggest it was a disastrous mistake.
Re: Why does the state have a monopoly on money?
#20Leaving the gold standard has been a disaster for the working class (i.e. anyone who has to work for a living) https://wtfhappenedin1971.com/
Try again. Reaganomics and government interference to destroy the labor movement did significantly more damage. Bailing out failed corporations instead of the people they cheated did significantly more damage. Hell, irregular trade policy when there is a fragile supply chain has done more damage to working class people in the us. The working class, by design, was/is too cash poor to give a crap about what cash was ba…
Did you see the link I posted? The decline began well before Reagan, although Im sure Reagan didnt help.