Anarcho-Capitalism 02: What is Money, Really?

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• 02

[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.

[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.

[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).

[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.

[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]

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!