--- In LandCafe@yahoogroups.com
, "roy_langston" wrote:
> --- In LandCafe@yahoogroups.com, "John" wrote:
> > The conclusion of the film is
> > introduce LVT and go back to the Gold
> > Standard.
> Unfortunately, Ashcroft doesn't understand money, and calls bank-issued debt money "fiat money." Commodity (gold) money could work, as it did in former times, but we can't get there from here; and debt money can't work, so fiat (greenback) money is the only workable kind of money left. Fiat money would work well as long as its issuance was under the control of an independent Mint whose sole mandate was price stability.
Roy, the film gave differing views. One talking head was for the gold standard which gave the impression it was for this, but is not what the film advocates.
"We do not suggest going back to the gold standard - we say that a stable money supply is the cornerstone to a well functioning economy, society and ultimately democracy. This is clearly stated in the book Four Horsemen: The Survival Manual. A money supply in the hands of private banks who are incentivised to expand it for profit is - as we see today - disastrous. Ask any saver."