Selected in the top 100 Economics Sites

Follow me on Twitter

Friday, December 10, 2010

Scream-holler-and kick your heels.


Jeffrey said...

If we vote to legalize competitive currencies inside the US then Congress has no say in monetary policy what so ever, they lose their monopoly and are forced to compete to provide a stable currency. People like myself, Austrian economists, and Ron Paul do not like the Fed because it promotes socialism. The Fed is controlling the price of interest and ignoring the natural supply of loanable funds - by guaranteeing that the supply will be there they socialize the risk of banks and devalue our currency which is a tax on savers and a subsidy to those in debt and to the financial industry. This is bad for the average American, but good for the government and those they choose to help.

What we need is total separation of economics and State - one flat 5% federal consumption tax that cannot be changed. In a world of competitive money the market wouldn't support any deficit spending. I realize how "extreme" this sounds, but until we get there things are going to continue to be a mess. And really as long as government exists at all, people will always end up being oppressed - taxation is theft.

Jeffrey said...