Monetary Freedom and its Opposite | Mark Thornton

[niffink]

Good explanation of why the gold standard is not such a great thing.

[Yoetah]

Why aren't more individuals like Dr. Thornton in DC making decisions/laws?

Is it that we aren't able to make intelligent choices because we've been led to believe that Socialism (which is what we currently have because WE FAILED) = freedom and equality for all beings?

Folks, we've been "had" in such a gross way

How did it happen? (who's Norman Dodd)

Listen to what this gentleman has to say about too much govt intervention:

350 Years of Economic Theory in 50 Minutes

watch?v=rI0vZ5jBA9o

[Nintendomanwill]

@Yoetah

I just wrote a quick essay on Intervention. I have two stratum thereof and a second substratum. There is intervention which bans certain activities. It may have moral force. There is intervention which actively promotes or indeed enforces certain action. There is therefore positive and negative intervention. A substratum of positive intervention is that which is deemed necessary and that which is deemed more profitable, more benign, when enforced rather than allowed to the market.

[Yoetah]

It sounds well thought out and practical but call me pessimistic - "it's too late."

The economy feels like a "controlled capitalism," to which is under controlled demolition.

Laws which regulate the market that aren't fairly enforced.

What irony-so much regulation but due to corruption, we say "regulate wall street"

The regulators are screaming

"we're choking from too much regulation"

Criminals would pay to have "experts" submit suggestions on ways to intervene...they then, would place in #13.

[Nintendomanwill]

Socialism is the victory of coercion over contract. It's seed can only germinate into the creeping ivies of socialism if at each vital juncture of the failures of benign tyranny, people blame its lack of advancement for their troubles rather than its protrusion into freedom. Doublespeak and dialecticalism are useful to the statesmen who wishes the people to support the turn towards more statism; that we should follow more of what has been disastrous so contradictions culminate for a 'newfreedom'

[Yoetah]

Are you considering a video on your essay...if not, reconsider.

There's a disconnect and a lack of education on government administration

[Nintendomanwill]

I might just do that actually, although the essay is more or less just a brief exposition of why supposedly benign government intervention is a myth, and that at the most government should only intervene if to ban what should be illegal, not to provide the wares of human industry. For government, the instrument of provision of coercion through taxation, is particularly ill-constituted to provide these services given that it aims not at profit (cooperation) and allows no choice on its ventures.

[Yoetah]

I was just walking around...thinking....

"what a reign-in of services reducing government would be domestically - a mighty task" and it occurred to me

"Oh MY, what about reigning in government intervention in foreign countries?"

It's too much...lol...okay, take care and I'll check your channel soon.

[Nintendomanwill]

@Yoetah

I intend to promote this essay to any who are not completely warped against freedom by the doublespeak of the big government agenda, the doublespeak of liberal interventionism, of the definition of inflation and the bearing that has on credit expansion channelled into causing sector-specific gluts: our political landscape is one of pyramided fallacies each contrived to support the other, in one fantastical philosophy that assigns government the role of arbiter of civilisation!

[Yoetah]

I wish you luck...I will place this video back into my favorites.

[Nintendomanwill]

Sound familiar? 'New Deal,' positive freedom...'we need government to provide our healthcare-even though it does already get involved to prevent consumer choice!'

[Yoetah]

True transparency would go a long way to restore checks and balance in an out of control government which contracts its services to private which allows them protection from oversight.

This was one way criminals knew they could "get around" the Constitution.

[Nintendomanwill]

Government shouldn't tax to provide service. In fact government shouldn't exist, we should just all follow the American Constitution and have a private police force which receives money for following it. Law is very finite. Most law needs tearing up. Law is morality in action. Morality must apply to all society, it must be objective, or it applies to no society. The paradigm of states dividing us with different laws and their tyranny of interventionism must end, politics is illegitimate.

[Yoetah]

"Government shouldn't tax to provide service. In fact government shouldn't exist, we should just all follow the American Constitution and have a private police force which receives money for following it."

Amen! Talk about repealing tax laws and you're quickly identified and aggressively targeted.

Tyranny taxes. Tax on everything and soon God forbid carbon tax-it's coming and it was done in the most gross, subversive way-exploit the compassion within humans. Tell lies, create a green religion

[harryogre]

Dr. Thornton gives us an interesting question that I've often pondered.

Are Washington politicians evil and actually conspire to take us into hyperinflation or are they simply as dumb as a sack of manure?

Having spent years working in the aerospace/defense industry and interacting with government employees, NASA bureaucrats, and minor elected officials, I have faith in the sack of manure theory.

I hope I'm right.

[stealthswimmer]

yeah I think they are just arrogant in thinking they have the right answers and can make the right decisions in their central planning.

Plus you gotta realize that what a lotta them get taught in schools, including universities and such, basically tell them how to get the "right answers" and that the government can work to stabilize the market, lol.

[angusmcgherkinsquirt]

what university would be the best to learn about Austrian economics, in Australia?

[pro404]

yea the Mises institute basically believes in putting up everything they create for free forever on the internet, it seems to be working.

[dabigez357]

wasington, the bastard criminals is the reason why! unless and until we remove all of the treasonist traitors, and deconstruct all of the bad laws & polices that the criminals have put in place for their evil buddys and themselves!

[ball4thegame]

what university would be the best to learn about austrian economics? im sick of taking :money and banking" at nyu with the textbook having been written by someone at the FED.

[ACPUSA]

The question isn't the college, but the professors in the econ department. Loyola College, a respected Catholic university, has Tom DiLorenzo on the econ staff. Auburn University is sometimes thought of as an Austrian hub. George Mason University, of course. Loyola University in New Orleans is another Jesuit friendly to Austrian Economics.

[LibertyOrBust]

Great talk!

[bighitter42]

And yet the American public continues to remain ignorant....

[Elasaltaculos]

well, they shrug off the Austrian economists as fringe nutjobs, even if they keep being right over and over again.....

[djsherin]

I'm an econ major and what you say is so true. It's okay until you mention "gold standard" or 100% reserve banking.

[Elasaltaculos]

Hmmm, I envy you, hopefully I get to go to school for economics once I get my house paid for.

[Nintendomanwill]

@djsherin

Do you not think that without the paradigm of central banking, we would either deposit money to be kept at 100% reserve or would contractually allow it to be invested and indeed get a return better than the paltry interest rate allowed by credit expansion?

I can sympathise with you being anti-100% reserve banking, although that conception of a free market seems odd.

BUT there is no excuse for believing in fiat money. Gold is not a 'barbarous relic,' it helps prevent boom-bust.

[djsherin]

Oh don't get me wrong, I'm pro-100% reserve banking. I think what I was saying is that you can't mention that in mainstream economics without being written off.

I believe that in a free market monetary system, demand deposits would be 100% reserve (since they are ON DEMAND) while so called "time deposits" (which are actually loans) would also still exist with no reserve requirement (since availability is surrendered for a given term, thus making it a loan, not a deposit).

[djsherin]

PM me if you want a more detailed explanation of what I think.

[Nintendomanwill]

Okay, could you send me the PM? But why not type it and divide it over several comments? I think that would be better than most of our comments thus far! BTW I just completely schooled a young American progressive (lost in London) on central banking and fiat money-I even induced him to say 'duly (dooly!) noted' when I said that boom and bust can't really occur without central banking and imposition of credit expansion, so gold, that money chosen by markets, is key. He's one of the people who

[Nintendomanwill]

He's one of the people who recorded that Glenn Beck interview wherein he went batshit at this woman calling about healthcare reform, he was doing work experience or something for a sort of 'liberal' (socialist) media watch on al the right wing pundits like on Fox News and Beck and Limbaugh etc, and when I mentioned that hilarious Beck clip on youtube he was like ZOMG WE WERE THE ONES WHO FOUND THAT AND SPREAD IT OVER THE NET

So I'm doing my bit to convert young American socialists!