Tag Archives: fiat currency
What’s Mitch reading? And what’s the Austrian theory of the trade cycle?
This. The question is this–is it possible to control boom cycles? Now, the continual position of the bureaucrats of the US treasury department is that we can, while simultaneously sprucing up the economy with thin-air-invented dollars that have no real underlying meaning. This position has been held even though a series of financial crisis has [...]
Posted in economics Also tagged austrian theory of the trade cycle, boom and bust, crack-up boom, deflationary recession, fritz machlup, inflation, monopoly money Leave a comment
some thoughts on the recent gold-and-silver proposal by south carolina representative mike pitts
I know I’ve already written a post on money today, but now that I’ve heard this story I simply cannot keep silent. Now, I must both congratulate and frown at Representative Mike Pitts of South Carolina. For those not fascinated enough with currency policies to read the full story through the link above, I’ll give [...]
a few thoughts on money
Money is basically fake. Currently, money in the U.S. is little but a shared delusion–there is nothing backing it up except for public perception of its worth. There are therefore certain things which thus follow from having a fiat currency, that is, a currency which has no fixed value. Related Posts:The Meek Shall Inherit the [...]
Posted in christianity, economics Also tagged kingdom of heaven, money, resources, scarcity 8 Comments
more on venezuelan currency devaluation
And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine. — Revelation 6:6 Yesterday, I commented on Venezuela’s recent currency devaluation. Now, the Mises Blog has chimed [...]
Posted in economics, government Also tagged chavez, devaluation, inflation, socialism, venezuela Leave a comment
venezuelan currency adjustment and what the bible says about it
Nope. I don’t have a specific divinely revealed message for you about Venezuelan currency devaluation. What I have instead are just some under-developed ideas to present, and all of you can make up your own minds about it. And you can also feel free to chime in and help me make up my mind. Related [...]
Posted in passage interpretation Also tagged bolivar, class warfare, hugo chavez, just measures, robin hood, venezuela Leave a comment
Gold cracks the 1250 ceiling again.