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Is it practically possible to control inflation under paper currency system?
Dr. Lawrence Parks had written
"Today, fiat money, money that is created out of nothing and without work, is used worldwide. The reason monetary authorities have gotten away with this prima-facie fraudulent money is a combination of coercion (specifically legal tender laws in every nation and restrictions the IMF has put in place internationally that prohibit member countries from linking their currencies to gold, and only to gold), misrepresentations, and nondisclosure of material information. Since the 8th century in China, every experiment with fiat money has ended in disaster, many times destroying the middle class, that group that protects society from the barbarians. To counter this
risk and to protect and preserve our civilization, it is essential that we once again return to "the standard of every great civilization": gold-as-money."
Many economists do not agree and most governments would find it impossible to switch over to a system of gold backed currency.
3 Answers
- SiennaLv 78 years agoFavorite Answer
"Is it practically possible to control inflation under paper currency system?"
No.
Dr Parks is right.
"Many economists do not agree ..."
The question is not whether they *agree*. It's whether they can *refute* the argument. They can't.
Furthermore if you take all the economists who don't agree, and do a reality check to see where their income is coming from, you will find that they are overwhelmingly funded by government: including Treasury, Finance, the Fed, academe, the academic journals - the careers of the whole industry are dependent on, and distorted by the State.
"They would say that, wouldn't they"? The economists function as high priests. In exchange for a share of the loot, they preach to the masses that Pharaoh can do no wrong, he makes the rivers to flow, we owe all our lives to his graciousness, etc. etc.
The fact is, the person with a licence to print money has a licence to misappropriate real physical wealth from everyone who uses money, at the rate at which he inflates the currency. How can this be denied?
" ... and most governments would find it impossible to switch over to a system of gold backed currency."
Most *governments* would find it impossible to give up their addiction to self-permitted fraud. Well that just says it all, doesn't it?
That only confirms that there is a conflict of interest between governments and their subject populations, whom they systematically and chronically rip off by the fraud of fiat money.
Fiat money should be abolished.
Source(s): To really understand this topic, and how the arguments of the fiat money apologists cannot withstand critical scrutiny, see these two books which explain it all in plain English: “What Has Government Done to Our Money?” by Murray Rothbard http://mises.org/books/whathasgovernmentdone.pdf “The Mystery of Banking” by Murray Rothbard http://mises.org/Books/mysteryofbanking.pdf Only after the fiat-frauds have refuted those arguments - they never do because they can't - will they be in a position to put forward their cult creed that government creates real wealth - roads and bridges and hospitals - by stamping special squiggles on pieces of paper. It's not an economy theory, it's a dream of magic pudding, backed up by guns, and a legal monopoly of what they themselves declare fraudulent if anyone else does it! If it was true government could create wealth out of nothing, there'd be no need to do it by manipulating the money supply, would there? - Star LoganLv 78 years ago
But in a real sense gold is meaningless.
What has real value is land, and the tools we use to protect it (guns)
Food, water, things like this are really whats valuable.
We use Gold and Silver as currency because it's rare, but because one country can dig it out of the ground, now makes them "rich", for what reason.
I don't agree with printing out money, it's as bad as digging for gold forcing the world to demand that you are now wealthy, without any work or infrastructure.
What if someone said, you can have all the gold you want... but it's on Mars.
- 8 years ago
The gold standard isn't very efficient but at the same time your right I really do fully agree with you but paper money also has its many disadvantages. I mean its really not that accurate basing its value on consumer confidence etc, seems fishy
