Anarcho-Capitalism 02: What is Money, Really?

[krautbeer100]

the Federal Reserve is not a branch of the government they are a PRIVATELY HELD BANK that is authorized to print money and have NEVER been audited and keep refusing to do so.They are controlled by the Rothschild family who owns 50% of all the worlds wealth

[friedoctorock]

I agree completely. But you said the Fed was a branch of the gov't. It's not. It's a private bank with special gov't-enforced privileges. That's why it's in the business section if the phonebook.

[TheGirthking]

printing money is making fake IOUs, stealing bakers bread, but...The baker now has a fake IOU to use for the table, paying the carpenter with the Fake IOU, and over and over again.

[warzmx]

Which song is this?

[badpanda84]

@shadowgeyser The goverement printed money only counts for 5% of all the "money in circuations" the banks simply enter a few keystorke into the computer to create money.

[badpanda84]

You do realise that 90% of the "money" is created by banks. not the goverment .

[MoneyIsSilver]

Money is not an abstract unit of account, divorceable from a concrete good; it is not a useless token only good for exchanging; it is not a claim on society; it is not a guarantee of a fixed price level. It is simply a commodity. It differs from other commodities in being demanded mainly as a medium of exchange.

-Dr. Murray Rothbard

[lordthawkeye]

I had someone try and tell me "We have to have fiat currency because there's not enough gold to have a gold standard anymore!"

And yet he claims to be educated in economics...suuuuuuure!

[dksilentbob]

money could easily be produced by credit card companies such as Visa and Mastercard, and then trickled down to other businesses, private enterprises, and individuals from there. Afterall, VISA, it's everywhere you want to be

[GoblinCobbler]

The City of Leiscerbette is open to all points of Law.

Leiscerbette (population 35,866)

[youdontneedtoknowme]

Fiat money, money by decree, is illegitimate and everywhere throughout history where it has ever been tried (and it has been tried often) it has failed, and typically taken the civilizations that used it down with it. Fiat money can only be enforced through force - nobody would accept a worthless piece of paper for the products of their labor voluntarily if there were commodity based alternatives.

[youdontneedtoknowme]

It also allowed for economic feasibility to be evaluated. "should I buy a tractor?" Sure, it costs X and will allow me to produce Y, so I can pay it off in my surplus over two years - or whatever.

[youdontneedtoknowme]

Money was a critical development in human civilization - it allowed for common accounting and economic decisions to be made. Prior to money, a business might say, "this month we took in: one wheelbarrow, two bushels of fish, three pounds of butter," etc. and "we produced six bushels of wheat". Did they make a profit? It is impossible (or at least very cumbersome) to tell. Money provided a common measure for accounting.

[youdontneedtoknowme]

As certain commodities become generally accepted in a region as an indirect medium of exchange (money), the acceptance spreads further and further. Money is only as good as people are willing to accept it.

Mises showed that the day before a commodity was used as money, it had a direct value on the market. This means that money is not money because someone says it is, but only because it is generally accepted.

[youdontneedtoknowme]

Not true. Money is not an IOU. Money is an 'indirect medium of exchange'.

Say Guy 'A' fishes, 'B' raises corn, and 'C' bakes bread. If 'B' wants fish but 'A' doesn't want corn then there is a dilemma.

When 'B' barters corn for bread, not because he wants bread, but because he wants to trade bread for fish, money is born. Bread became money because it was desired, not for itself, but because it could be used as an indirect medium of exchange.

[1942tj]

Love the vid! However money still makes it easy for flow of goods instead of bartering.

[VetSkin]

nice videos--music sucks ass.

[PontiffMystic]

Look at Bush, he borrowed a ton of money, and flooded the market with foreign money. Bush had crazy GDP, because there was more money to spend. A lot of that money went into the housing market. Feds instigated higher house prices with affordable housing, but in reality, they were increasing the prices of houses. It became a seller's market, and everyone wanted to get rich. Subprime made houses even more highly priced. When all that credit was expended, housing deflated in prices. Feds are dumb.

[PontiffMystic]

Money is not necessarily a IOU. Paper money in it's earliest form was a bank note from bankers who stored gold, and issued bank notes on gold in their vaults from the depositor. These bank notes acted like money, because it was redeemable in gold, which was the real money. Banks notes were easier to carry around than gold. This is where the first paper money came from. Gold itself is counterfeit proof, this is why it was considered hard money. Money is a free market solution to indirect exchange

[ConstitutionSupportr]

In a truly free market system, we are not talking about simply free market economics but monetarism as well.

The best way for a country to flourish then would be for everything to be money, and nothing to be money.

This is to say that when everything is money whether chickens or gold, a community will generally speaking go to the most dense form of currency.

But those that don't have gold will get it.

Its best to look at money as a good, not as being separate from goods and services.

[kurt44mg42]

Succinctly explained. Nice video; lets have more!

[dalejrfan800]

Yeah, don't really believe in Capitolism. It is a system founded by Greed. It's created a materialistic world, nobody is themselves anymore.

[ufee]

If you enjoy having property, like, say, a computer, or even a house, then capitalism would seem to be in your favor.

[McOath]

OVERSIMPLIFICATION OF MONEY SYSTEM. basically I say this because it would lead one to the conclusion that inflation is 100% money never has anyvalue, this is not the case, money is a measure of value, and a medium of exchange, without money any economy in human history would have shut down. except for those who bartered and we know the bartering is not an effective system.

[dalejrfan800]

Why is that not an effective system? Without Taxes the monetary system wouldn't be needed. Now, the Feds commit Treason, Counterfeiting. The case is that the Monetary system is a way to say "I don't want to share!" Like a child. Now, lets say all the homless in the world would recieve a home for doing good among their community, why is that so hard to achieve? But, with a monetary system it is impossible, because he most likely wont get a job, not because he doesn't want to, because he cant.

[McOath]

well how does the dentist make a living in a barter based system, to get a coat or piece of bread he needs to find a tailor or baker with a toothache, and even then would you equivicate a dental operation to the value of one loaf of bread or two vests or what. a measure of value, a currency is needed. Taxes and government left completely out of it you need a money.

[McOath]

I want to be clear I probably agree with you, I just believe blaming money itself for the way our terrible system works is like blaming the knife for stabbing someone.

[PontiffMystic]

McOath, fiat money causes inflation, because the monetary system controls the money supply. Printing up more money debases the currency, and even more apparent, printing up money distorts the market. For example, when the central bank expands on credit, it pumps more money into the economy. People spend more money than before, creating perceptions of high consumption, producers produce to meet the demand, when it is expended, the spending bubble bursts. Producers over produced. Deflation occurs.

[teewillis1981]

Anarchy is the only principal of living that works with the reality of human nature, it embraces Chaos theory in relation to the human condition. While government attempts to control our urges through violence, which consequently breeds more violence and contempt.

[mootallica]

How is giving the baker money stealing when he or she can use said money to help his business.

[stealthswimmer]

Exactly. I agree with the basic premise of this vid but it just didn't put it in a very good way.

For example, money is not a promise for a good. It arose out of a barter system when a certain commodity was in such high demand that people knew they could exchange it for something. Many things have served this purpose, one of the most stable being gold.

The thing about inflation is though, that it shifts wealth from the bottom to the top because the first to get the money benefit more.

[stealthswimmer]

continuing on my previous reply

and the reason people who get the money first benefit more is because they get to spend it before prices rise. The people who get it last are hurt more because prices have already been increased for a while before they get extra money. That means wage-earners get hurt more because wages always lag behind inflation.

[Joefreiheit]

Anarcho-Capitalists believe in a free market Capitalism, not the state run Capitalism that we have now. Without government you won't have the corrupt monopolies that now exist. Anarcho-Capitalism is the purest form of Capitalism and the purest form of Anarchism.

[Mattes50A05]

Hey I like your video but I have a disagreement on your ideas of money being IOUs. Money can be yes IOUs but money can be and is usually commodities with universal value ie. gold. If you ever get a chance read Murray Rothbard's book "what has government done to our money?" You can find it free online with a text and audio version. Easy to find w/ google search.

[CorollaKing]

Money=Value? The Fed should be abolished, Ron Paul 2008!

[TanAustin]

Is the song used a remix to one of The Cynic Project's songs?

[superpedro69]

What if I print money or IOU's, but it is a contract that says "I owe you a service worth $30." Then, I sell that IOU on Payloadz for only $5.00. I could make $5.00 RIGHT NOW, and deliver the $30 service to my customer at a later time.

[clennon84]

There is no such thing as anarcho-capitalism, anarchism is true freedom, capitalism is the ultimate slavery.

[thebluemaggot]

Anarchism is true chaos.

[teewillis1981]

Are you familiar with Chaos theory? It's the behavior of dynamical systems that appear to be random but their initial conditions establish the conditions for a future event. It is the study of determining the underlying reasons for seemingly random events. In this sense, the weather is chaotic but when studied we can determine reasons for a thunderstorm. Government attempts to establish order, which in itself is impossible, creating a false sense of order is like trying to control the weather.

[luke666808g]

capitalism isn't slavery, you're retarded.

[ANARCHYdashTVdotCOM]

Gold is just another arbitrary object to place symbolic value into... really, the object of exchange is irrelevant, as long as it is finite, and divisible. But once you chose a finite medium, the person who creates or controls this medium (ie, the printer, in the case of paper money) has inordinate influence and power.

The solution is probably for Anarchists to print and popularize their own money, and aggressively market it to replace state controlled and maniuplated currencies.

[Livingfishguy]

I agree with this guy. Gold is entirely at the will of the market.

Ideally in an anarcho-capitalist society different companies would offer their own currency and people would choose to use a certain currency based on how well the printer can regulate the value of it's currency.

[BrightAnarchist]

+1

The best money would be market determined money. Competing currencies would revolutionize money in the same way that cell phones emerged from the breakup of the government imposed AT&T monopoly.

[teewillis1981]

I like that idea. So competing currencies would work in the same way that international currency exchange works now?

[Nintendomanwill]

Money needs to be of fairly limited supply and above all must be unlikely to increase in supply. You know this when you prefer money that you know will not be printed much tomorrow. You know this when you don't hold on to many Zimbabwean dollars nor work much for them. But do you know this when you think about economics and the business cycle? Does anyone realise Will's Law of Money?

That money is best which is not likely to increase in supply & confer unwarranted advantage & investment gluts.

[ANARCHYdashTVdotCOM]

Refuse to accept any US dollars, period. If someones going to pay you, they have to pay you in something else. Real goods, real services, real physical objects you accept for the trade. If the government demands these bills from you to pay taxes, laugh at them and say you got to be joking, you print it, not me, I don't print those things, ask them from yourself.

[ANARCHYdashTVdotCOM]

Time to storm the government and demand something hard and concrete back for all these now worthless U.S. 20 dollar bills they've rolled off their printing presses. If they can't pay, foreclose and split up their assets like any other bankruptcy.

[Livingfishguy]

so you destroy the dollar, then what? so far the dollar is the only thing we got, of you destroy that then we got nothing. The best solution would be to invent a new currency and guarantee that it's value will never change.

if you foreclose the government then we will become vulnerable to even worst governments than the one that we got. You have to beat them at their own game, form a political party and develop a plan for reforming the united states into an anarcho-capitalism.

[cobrachoppergirl]

A government that is worse? I was imprisoned for two years and tortured for a crime I didn't commit. It destroyed my life and left me bankrupt, fatigued, and perpetually furious and bitter. I did try to create more anarchists, because there are not enough, and a political party through my web tv station. Better to expose their worthlesss script. As soon as I have the means from winning a lawsuit, I plan to create an alternative currency like the Liberty dollar was.

[Livingfishguy]

Thats a step in the right direction

The problem i see is theres plenty of anarchists we just need to get organized and get the word out because nobody really understands what anarchist are all about

what i ment was if you get violent the government would label you as a terrorist organization, turn the public against you and stamp you out like a firefly

and if you won the battle you would need a plan or else someone might take over as dictator and rule the country with an iron fist.

[warcwulf]

The Federal Reserve is not part of the government, it's part of the banking system, which is a private organization.

[eujct]

I remain to be convinced towards anarcho-capitalism, so can somebody tell me how the value of the products is decided? How is bread worth a table etc? Do we use labour value theory or supply and demand? Im not to strong on economics and want to learn, any links or answers regarding my queston will be much appreciated.

[Rorshak1313]

The bread is worth more to the carpenter than the table, and the table is worth more to the baker than the bread is. That's how they decided value.

I'm not strong on economics either but mises(dot)org has many books, podcasts and articles on the subject. They could probably answer any questions you have WAY better than I ever could.

[Moragauth]

Read Carl Menger. He explains all this in his Principles of Economics. No one dictates the value of any product - it is determined on the market.

[Livingfishguy]

It all comes down to supply and demand

If there were 100 tables and only 10 people wanted one, tables would be worthless

But if there was only 10 tables and 100 people wanted one, the tables would go to whoever is willing to pay the most.

This would make tables valuable and so people would start making more in order to make a profit, but when it reaches a point where theres 100 tables and 100 people want one then value is determined primarily by the amount of labor involved.

[kittiest34]

market equalibrium is a lie. Given that capitalism is a "Boom and Bust" economy.

[OgeronimonominoregO]

You may be confusing "capitalism" with the present system of monopoly money and credit and gov't intervention, and every other thing that makes our system so contrived and controlled by monopolists.

[teewillis1981]

Capitalism is a "Boom and Bust"? Are you sure about that? The Boom and Bust cycles are largely created by government price controls and inflation. Capitalism doesn't cause boom and bust cycles, government intervention causes boom and bust cycles.

[mutulus]

well what you refer to is actually a labor note which is generally considered different than general currency, even though it's used the same way. Traditional currency is based on positive value (like proof of ownership of some gold) whereas labor notes are defined by the amount of debt to the issuer. I only bring it up because you seem to refer to what are really labor notes as money itself. What you said is also correct in that fiat functions more as labor notes than traditionally currency.

[ajstarling]

But Gold is the ultimate speculative asset. There's something like a few thousand years' supply in vaults already, so it's not like a drought will suddenly wipe some out and cause the price to rise. The value of gold is driven only by the greater fool theory of pricing - it's worth only what you can sell it to the next schmuck for. So are gold mines stealing the baker's bread by mining more gold?

[BrightAnarchist]

You are correct that gold is speculative in our fiat-debtback money world. Market anarchists advocate a free market determination of money. GoldMoney is a possibility for the future. For the time being, I actually advocate paper money until the great deflation is over (see my other vids).

[Nintendomanwill]

@BrightAnarchist

Woah, you can't be an anarchist if you don't advocate a market-selected money standard, hell no. There is no deflation, wtf are you talking about? Do you think that the problem of a business cycle is falling money supply? Technically the supply of money matters not, that's price theory 101. What matters is whether conference of purchasing power remains sound enough by virtue of limited, market-selected supply of money, to cause investment from actual production and savings.

[mantawaira]

Nice!until the gold part gold is stealing,mafia, postfinanced slavery goldmines practice modernday slavery. Invest in gold and Life is less yourfriend. INvestin LIfe(SUSTAINABLE PEACEFULL)ways. INvest ingrow food,invest incommunity your own contracts with Bakers etc. you cant eat gold,its a setup to pour last drops into disappearing bucket Watch the spin,the trail of money no distract, everyday is ours its all we have. open canvass makesure thecorrupt arent holdingit foryou

[InfiniteRealms]

Contracts are only needed because of a lack of trust between parties. A simple handshake should suffice but the reality is people just don't trust each other. Gold only has value because of a belief system. It may be somewhat rare but it only has very limited uses. Pre-industrial it was only a vanity use. Men hyped it up creating false value in it. Humans are so delusional.

[Dionysius9]

See google videos "Money as Debt" "Monopoly Men" "The Money Masters" "America, Freedom to Fascism" and "Zeitgeist" to get an understanding of this chess game from the other side of the table.

[volition22]

great video! love the message! and the music!

[dakgoalie38]

The Federal Reserve is the biggest counterfitter in the US. Not only do they make IOUs, but they expect you to actually owe them back the IOUs plus more. It is a completely ridiculous concept. It's like if I went to a store, gave the guy a $5 IOU for a $5 product, but then instead of actually oweing him anything, he would actually owe me back the IOU, plus interest.

[FoolishCanadian]

Part #2

We have to face it: Our money system and the idea of capitalism not scientific, it is garbage... we just haven't come up with anything better yet, capitalism is like a car with a permanent flat tire. We can get to A to B and do some great things, but we still got a fucking flat and have to worry about the engine blowing out at any moment when too many people get displaced from jobs.

[Elhan2005]

Wonderful assertions. Now prove them all.

[FoolishCanadian]

#1

In any shared monetary system (say the US), you can distribute risk onto people that don't want it via inflation, devaluing their purchasing power and therefore committing theft, inflation is just another name for theft or "taxes" and these taxes happen via many ways beyond higher prices.

[Elhan2005]

I know about the Federal monetary system. I was speaking about capitalism.

[FoolishCanadian]

#1

"Capitalism" is an ethereal concept, our real economies no one really understands.

But captialism as we know it is based on human ego's and survival instincts, but it's only because the more people believe or apathetic about the systen and are animalistic too animalistic for anything differet...

[FoolishCanadian]

#2 (ugh I hate limited character limits)

Anyway, as a human institution capitalism is man made it's not a natural law. It's what we use because of the cirucmstances we find ourselves in, if tomorrow we have a tech breakthrough in either changing human nature, or expanding resource capacity to such an extent others don't have to work, the social structure would change (and hence it's not scientific, because it can be changed)

[Elhan2005]

As long as human nature is as it is and as long as scarcity is an economic problem, the system is here to stay.

[FoolishCanadian]

Yeah and every civilization said they were going to be the last ones, to survive the ages and look how that turned out. We don't know what is possible in nature just yet, especially with nanotechnology, if people copletely resource indpendent (they are not now in capitalism) that will change the social structure whether u like it or not.

[Elhan2005]

If scarcity were to disappear altogether, sure, economic systems would be wholly redundant. I'm not disputing that.

[FoolishCanadian]

part #1

Inflation is theft, plain and simple. Money is obsolete as a store of value, when I work 8 hours a day and I store that in the bank, my time is being devalued by other people who are offloading the risk onto me via inflation...

[kevininaustralia]

how does your money lose 93% of its value? only if you keep it under a mattress until you die. nominal interest rates on deposits generally exceed the inflation rate, douche bag. since 1913, inflation has been, on average, under 4%. This is slightly too high. however, 2-3% inflation is vital for a healthy economy. if you don't believe, study economics and move on from your crazy conspiracy theories.

[ForOrAgainstUs]

Why is inflation vital for an economy? It seems like the only reason you'd need to print more money would be if there wasn't enough for every transaction. But the reduction of availability would only cause the value of money to go up, ie. deflation. So I don't see why inflation is necessary.

[vespering]

Domestic inflation is only one aspect of the transnational currency standard that the US$ represents. Our current debt service payments are pushing us into default. The result is our $devaluation on the world's financial markets; 20% devaluation lost in the last 2 years!

[napoli3922]

Menger bitch slapped LTV in 1871 stoopid.

[MatthewLeee]

in modern gaming terms, LTV got owned.

[uwillalldie]

Congratulations, Elhan2005 and bobkindles, you both passed Intro Sociology.

[Elhan2005]

Eh? I am just addressing the economics of his arguments.

[blackpikex]

Do anarchists understand that in an anarchistic society there would be no government and therefore no police and army to defend the land the anarchists needed to grow food. Imagine a world where you had to watch your own back while farming or teaching your kids how to farm. Human beings are social animals, we survive best when individuals specialise in skills. No one person could have the time to be a productive hunter fisherman carpenter teacher blacksmith doctor or baker for that matter.

[dafatalgigabyte]

Do you know what a police officer is? I believe it's ooh-mah-n. No human. That's it. Yeah, a human specializing in combat. They tend to do it for national or community service. With no state, there's no state interest to use an army. So now it's all community servicers from there. If they get the stuff they need and want, the good feeling they get from protecting their fellow man is helpful to them. People confuse the issue actually by saying army instead of militia, the armed populace.

[blackpikex]

There is a film on google video that I would recommend to anyone who is trying to understand Money. The film is called "money as debt" then to gain a deeper insight I would watch "the money masters" on google video. Most people are going to spend a heck of alot of their life time working for money, so I recon its worth trying to understand what money is. Most government issued paper money goes down in value, because goverments allow banks to play with the amount of notes/debt in circulation.

[noisejamesnoise]

this sounds alot like an advertisment, to buy things, which will in turn support an economy. which is kept a float by money.

[xCyanoticx]

I am totally for anarchy, and in fact I am a baker. Hah. If anarchy is not available right now, would any of you put any trust in someone like Congressman Ron Paul? He is for destroying many of the bureaucratic mechanisms that rape us all of our prosperity anyways, I don't think it would hurt to wean some of the population of being so damned dependent on government. What do you all think, Ron Paul, the vote of the anarchist?

[BrightAnarchist]

Absolutely :) Ron Paul is the man.

[Elhan2005]

Sorry, but left-anarchist paradises ruled by "democratic" institutions are also hierarchical, as is in the innate nature of democracy - a tyranny by the majority. So sorry to burst your bubble.

[AzrielSivad]

I agree!

Furthermore, money isn't an IOU;credit is.  Money is meme in an imaginary barter system. To illustrate my point, let's add a third townsperson, the miller. The miller needs a table; the carpenter, bread; the miller, flower. The townspeople agree to let an imaginary thing, paper, reflect the value of these goods and service, so that a coincidence of wants is not a prerequisite to trade. Beyong that, god vid.

[lordmetroid]

Barter equals an unworking society. No trade at all equals a dead society.

[joesub007]

And anarcho-capitalism means everything is for sale. Farmland? yep, factories? yeah. mines? go ahead. water? why not, human beings? you betcha... Money isn't an IOU. Not even close. Money is the greatest scam stupid people have every fallen for. Think about this. If I'm the bake shop owner and I pay you (the baker) to make my bread and you pay me back because you need to eat the bread, I'm still rich. Hmmmm...

[lordmetroid]

...

You just made my point.

[Elhan2005]

First of all, you're totally ignorant of anarcho-capitalism if you think humans are for sale. Nice going. Secondly, money is simply a commodity to deal with the absence of a double coincidence of wants that is frequent in barter - it facilitates trade. Non-100% Reserve money is another story...

[bobkindles]

This video implies that all monetary transactions between private individuals are voluntary.

This is not the case - the most important transaction, the wage-labour relationship, is coercive, as if an individual does not have ownership of the means of production and is not able to secure another means by which they can survive, for example, through the state, they have to sell their labour power as a commodity - at a price dictated by the Capitalist. In this respect humans are for sale.

[Elhan2005]

Umm, no, it isn't coercive. It is a two way street. This is especially so in competitive labour markets.

[bobkindles]

The transaction involves an unequal distribution of market power. The worker has to accept the a price dictated by the Capitalist due to the existence of what Marx termed a 'reserve army of labour' - other workers that the Capitalist could choose to employ. The only way to overcome this is through industrial organisation and struggle.

[Elhan2005]

Where, precisely, is this "reserve army of labour"? It is crucial to remember that Marx's theories were developed in the context of the so-called "Iron Law of Wages", linked directly to the now refuted LTV. Modern economics sees labour as more than able of negotiating its remuneration (one way is through artificial restrictions of labour supply via unionization - if this is what you mean by industrial organization, fair enough.)

[bobkindles]

This is especially true in a system of global capitalism in which financial assets can move unimpeded across countries - if workers in developing countries demand higher pay, the Capitalist will choose to move production to another country. This yields what is commonly referred to as a 'race to the bottom' - governemnts will compete to relax labour standards in order to attract foreign direct investement.

[Elhan2005]

This is in fact, a fallacy. It is based on an utter neglect of the fact that it is productivity that is the most important factor characterizing labour. Put simply, higher western productivity levels and differences in demand for labour by western corporations means that this is nowhere as likely as some people think it is.

[bobkindles]

Could you please elaborate on how the LTV has been refuted? Empirical evidence supports the predicitons that can be drawn from the theory and so, in accordance with the scientific method, we cannot describe the theory as 'refuted'. For example, the share of wages as a proportion of total income relative to profits has fallen over time - this is what Marx predicted when he described 'immiseration' often described in coloquial terminology as 'the iron law of wages'.

[Elhan2005]

It has been replaced by the subjective and marginal utility theories of value, which can better explain things like the diamonds-water paradox. Predictions from the theory, if any are accurate, are purely coincidental. Marx may have predicted something for all the wrong reasons, after all.

[bobkindles]

The key - and possibly the only - factor taken into consideration when making production decisions is how to maximise surplus value. Although productivity (relative surplus value) may be part of this, the gains in surplus value that are made through lower renumeration and greater absolute surplus value means that corporations are moving to the developing world. Again, empirical evidence supports this, especially in the case of manufacturing industry.

[Elhan2005]

What surplus value (hint: it's linked with the LTV)? What empirical evidence?

[emerson134]

How is it that Gold is still below its 1980 high in USD's if the U.S. Government. is printing massive amounts of credit?..There are only two explanations..1. Inflation is not the problem, the problem is massive assumption of debt giving the appearance of inflation (false asset inflation which could quickly turn to deflation)...OR 2. Inflation (stealing) is the problem and the price of gold is being manipulated to hide the reality.

[notque]

Rothbard's world view is disgusting. I don't want to live in a world like that.

[Elhan2005]

No one would force you to.

[antoniocostaamaral]

"Money is a commodity in itself."

Good Heavens... Money _should_ be a commodity. It is just paper.

[ChaosxRiot]

cool!!!

[poojjjjj]

A very good video, very clear on what money really is, Brightanarchist. I just have one question: where do you get the 93%? Isn't it just 100%?

I too am an anarcho-capitalist!

[dwhee]

Global warming, genocide, and the global terrorist threat are NOTHING compared to the problem in our society that is COUNTERFEITING. right.

Sorry, pal. We don't need another idealist. How bout you go file for unemployment, spend it on drugs, and come back when there's a market for your opinion. Thanks.

[TomJackson986]

who gives a fuck just fucken live ur life and dont fucken worry how its put there. this guy will live worrying about stupid shit. and guess what money is.. its everything today

[NoGuff]

And lastly, the Federal Reserve is not a "branch of the government." No more than Federal Express is. The US used to have a bank, called the Bank of the United States. No more. And money is not a zero sum game. Printing money isn't making fake money, nor is it stealing. Most just goes to replacing old bills anyway.

[NoGuff]

And second, money isn't an IOU. And IOU is more of a loan. Money is a commodity in itself. And IOU is more like "You gave me something that I should have paid for, but we agree that I'll pay you back later." Money is not the same. Third, there are other kinds of money. It's not illegal to print your own money, just counterfeit Federal Reserve notes. Poker chips are a form of money, they're just not worth anything outside the casino.

[NoGuff]

Well, first, if you're an Anarchist, then you are dedicated to the destruction of society. That includes the government, law and order, the economy, and property ownership. If so, then what the hell do you care about money?

[Crustanarchy]

Most "anarcho-capitalist" theorists advocate private police or in other words: an army or military. This would eventually lead back to the creation of the state and "free capitalism" would lead to slavery.

[Crustanarchy]

Anarchists hate capitalism... your points are void. Capitalism and anarchism mixing... seems very contradictory to me.

[3swoosh2]

any system will work, its how it's run. If it's run honestly even a fractional fiat currency can work. but when u got ppl that own money, such as the rothscilds own the euro currency and the rockefellers the dollar currency and they use the extra fiat money for their own uses to buy absolutely the whole planet.. well it does work well, for them.

[lordmetroid]

The only way one can make money works is by letting the private individuals and the free market provide their own money.

[allixpeeke]

Post 2: You write, "Printing money is stealing, period." Yes, if it's not backed by anything.  Printing money backed by, say, gold is not stealing. I'm positive you agree, it's just a matter you should have been clearer about in the making of your video. :)

[scarfdaddy]

stupid asshole the government doesnt print money look to the international bankers they control the federal reserve therefore they print the money this crap is just disinformation

[blackbringer]

So called "Anarchocapitalism" has nothing to do with anarchy nor anarchism. We, anarchists, reject "anarchocapitalist" ideas. There is no freedom as long as there are rich or poor and all capitalist ideas are based upon injustice and greed. Anarchocapitalism is just something like capitalism light. Different crap, same smell.

[lorax2013]

I loved the video! You can play a happy song because now you understand the system. There's only one other video that gives a practical solution for the problem but that one is more technical and not as fun - search for "the real story of money"

[funkyou024]

this song ruined the entire video. how do you put a happy go lucky video game techno song to learning about the fed reserve stealing money from tax payers. its retarded

[MartenThuren]

Where did you get the amount 80%/93% from?

[BrightAnarchist]

That's how much value the dollar has lost since my Grandfather started working at 22 until now, when he is 87.

[panther9mm]

Why would people value gold?

[lorax2013]

Partially because of traditions dating to early metalworking societies and partially because it is rare and fungible. Even the word for money in many languages derives from the word gold or silver. When empires and their scraps of paper are forgotten, gold still remains.

[panther9mm]

But aside from jewelry, gold isn't very useful right? Silver has many industrial uses. What is this fascination with gold? Just because people in ancient times used it. But if you's starvin, and u had lots of gold, you'd trade it ounce for ounce for some dog food to eat.

[lordmetroid]

It is not a fascination... It is just easy to make use of for trade because of such factors as that it has a steady value, it is divisable and you don't need much of it.

[panther9mm]

You could say the same thing about the dollar.

[lordmetroid]

Todays world currencies and precious metal currencies are total opposite of each other in regards to currency. Precious metals doesn't loose value, todays fiat currencies do by design.

[panther9mm]

precious metals don't have a yield.

[endoppression]

I agree except for the part about the government printing the money. It is worse than that! The Federal Reserve is actually a private bank and the government guaranteese the interest to the federal reserve with the tax payers' money. The private bankers named it the federal reserve, so that people would think it was just a branch of the government. for more info. read "Creature From Jekyll Island; A Second Look at the Federal Reserve" by G. Edward Griffin. It will all start to make sense.

[ipeklofijs]

The government steals from EVERYBODY, everybody kind of IS government, so it is us stealing from us, which means - nothing is lost in the society as a whole.

[BrightAnarchist]

I must make a correction: change 80% to 93%. 93% is if you live to be 87 years old, retired at 65 and started working in your early 20's

[kr84all]

In the beginning process of making the money we use today I wonder who's brilliant idea it was to print "in god we trust" on the back of the bills. Who is "we", the government? They are certainly not talking about you and I. And what does a god have to do with currency anyway?

[BrightAnarchist]

You used to be able to trade dollars for silver. Now only God backs up the fiat currency I guess ... but the problem is, you see, I'm an atheist.

[kr84all]

I researched when and who decided to add "in god we trust".

In 1957 paper currency was first issued with "In God We Trust" as required by Congress in 1955. The inscription appears on all currency Series 1963 and beyond.

Another decision made by the government based on religion.

Thanks

[BrightAnarchist]

I updated the video summary (upper right text blob underneath 'subscribe') which gives a better explaination than this video. But it's a lot more complicated.

[BrightAnarchist]

Gold/Silver are the most stable currencies with respect to purchasing a particular "bundle of goods". If we don't see inflation with gold/silver, then why only with "fake-able" or fiat currency?

[stephendae]

that is one cool video... love it! now we're getting to the good stuff.

[BrightAnarchist]

Thank you