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Re: Four Horsemen

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  • roy_langston
    ... Unfortunately, Ashcroft doesn t understand money, and calls bank-issued debt money fiat money. Commodity (gold) money could work, as it did in former
    Message 1 of 90 , 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
    • roy_langston
      ... Inflation is shorter and more descriptive. ... Having a label and definition for the concept helps people share information about it. ... Maybe that s
      Message 90 of 90 , Feb 1, 2013
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        --- In LandCafe@yahoogroups.com, "harrypollard" wrote:

        > So why not say they are changing systematically?

        "Inflation" is shorter and more descriptive.

        > How does calling rising prices inflation help to "understand how, when and why"?

        Having a label and definition for the concept helps people share information about it.

        > Whereas inflation in its original meaning indicates that the money issuer has done something.

        Maybe that's part of it: the apologists for bankster privilege want to conceal the fact that it is private commercial banks that are issuing the money, not government.

        -- Roy Langston
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