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algreeny
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In A Paper System, All Assets Are Backed by the Treasury Bond

- Keith Weiner -

The Russians and French were hungry and cold. The Colonists could see they would become so if the King could tax them endlessly and without representation from the Colonist as producers. We are (in a sense) right back where we started. At least on the Federal level we have taxation without representation. We elect our Congresspersons and they go to Washington where they are bought off by lobbyists and corporate campaign donations. I am speaking in general terms. On occasion, my Senator comes home with a bag of money she shows the local newspaper and they report she got this money for us so we can keep working on some boat we no longer need. Yeah!
All the while we are taxed directly on our wages and indirectly by the diminshed purchasing power of the currency in which we are paid. Taxation without representation.

Local, at least in a small state, one feels like one has representation and "say" at the voting booth.

Commented 3564 days ago

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Beginning of the headline :In a gold-based monetary system, every asset is ultimately backed by gold. This does not mean that every debtor (including banks) keeps the full amount of its liability in gold coin just lying around. Why would one bother to borrow if one did not need the money? It means that every asset generates a gold income and every asset could be liquidated for gold, if necessary... Read More

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