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What is Money?

- Peter Schiff - Euro Pacific Capital

M, something quite close to perfection can in fact be achieved. We have never even been close. The key imperfection in our "free" markets is that they aren't and never have been free. Not even close.

M, you might be unfamiliar with the more recent sciences of complexity and chaos theory, and what they have to say about reality, money, economics, etc. M, it is simply true that man will never "invent" an economic system superior to capitalism operating in a sound-money regime, and we should all just get over it.

We all must decide on which side of Bastiat's dichotomy we lie, by deciding whether we agree or disagree with his statement "All legitimate interests are in harmony." If you agree, you must seek social solutions in freedom and non-interference. If you disagree, you must employ coercion as your tool of trade. If you agree, you are good. If you disagree, you are evil. It is quite simple, really. We have just never yet put the rules into play.

After the myriad failed social and economic experiments to which elites have subjected the people of the world, I think it is time we tried freedom. Please read "I, Pencil", written way back in 1958 by Leonard Read.
It can be found at: http://www.econlib.org/library/Essays/rdPncl1.html#I,%20Pencil

The "free market" has failings because it isn't free.

Commented 4324 days ago

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Beginning of the headline : Today, we're accustomed to thinking of small greenish paper rectangles as the definition of money, and we think of the US government as the only source of money.To honestly discuss sound money, we need to realize where our current money customs came from. At first, it was every man forhimself... Read More

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