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14851Re: Four Horsemen

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  • roy_langston
    Jan 16, 2013
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      --- 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 Langston
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