Comments on: Inflation is Theft (and you are getting ripped off) http://www.gonzotimes.com/714/inflation-is-theft/ Government is an unnecessary evil. Think outside of government Wed, 03 Mar 2010 17:20:08 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: PunkJohnnyCash http://www.gonzotimes.com/714/inflation-is-theft/comment-page-1/#comment-1603 PunkJohnnyCash Sat, 24 Oct 2009 02:31:51 +0000 http://www.gonzotimes.com/?p=714#comment-1603 lewrockwell.com@Ninja R @TreyFu Whenever you hear someone speak of gold's having intrinsic value, you can be sure that he has a confused theory of economics in general and monetary theory in particular. There is no such thing as a free lunch. There is also no such thing as intrinsic value. The meaning of the word "intrinsic" is always difficult to pin down. It means "autonomous." It implies fixity. There is neither in economic life. <a href="http://www.lewrockwell.com/north/north772.html" rel="nofollow">Click Here For Complete Article: What Is Money? Part 8: Why Gold Has No Intrinsic Value by Gary North</a> lewrockwell.com@Ninja R @TreyFu

Whenever you hear someone speak of gold’s having intrinsic value, you can be sure that he has a confused theory of economics in general and monetary theory in particular. There is no such thing as a free lunch. There is also no such thing as intrinsic value.

The meaning of the word “intrinsic” is always difficult to pin down. It means “autonomous.” It implies fixity. There is neither in economic life.

Click Here For Complete Article:
What Is Money?
Part 8: Why Gold Has No Intrinsic Value
by Gary North

]]> By: TreyFu http://www.gonzotimes.com/714/inflation-is-theft/comment-page-1/#comment-1507 TreyFu Fri, 09 Oct 2009 02:39:42 +0000 http://www.gonzotimes.com/?p=714#comment-1507 @Ninja R A gold standard is the primary choice of sound money advocates because of its 4000 year old history of emerging time after time as the best medium of exchange. If there were a free market in currency in the US, gold would out-compete every other currency as it has done for the past 4000 years throughout the world. As for the fiat currency you asked for - here's 100 Trillion Zimbabwe Dollars: http://en.wikipedia.org/wiki/File:Zimbabwe_$100_trillion_2009_Obverse.jpg Enjoy! @Ninja R A gold standard is the primary choice of sound money advocates because of its 4000 year old history of emerging time after time as the best medium of exchange. If there were a free market in currency in the US, gold would out-compete every other currency as it has done for the past 4000 years throughout the world. As for the fiat currency you asked for – here’s 100 Trillion Zimbabwe Dollars: http://en.wikipedia.org/wiki/File:Zimbabwe_$100_trillion_2009_Obverse.jpg
Enjoy!

]]> By: Ninja R http://www.gonzotimes.com/714/inflation-is-theft/comment-page-1/#comment-1502 Ninja R Thu, 08 Oct 2009 19:51:03 +0000 http://www.gonzotimes.com/?p=714#comment-1502 I read the article carefully -- specifically, the Jefferson quote. Did you? You're also right; there are tons of things which have intrinsic value, yet we hear nothing but WE MUST RETURN TO A GOLD STANDARD and FIAT MONEY IS THE TOOL OF THE CORRUPT POLITICIANS and more useless retardery. If you can find any *fiat money* which someone won't accept, feel free to send it my way, OK? And finally, I find it difficult to believe ***** veracity in this column when he also promotes a supporter of deficit spending during wartime and the use of inflation, Nobel laureate Milton Friedman. I swear, it's like half-Prisonplanet.com. I read the article carefully — specifically, the Jefferson quote. Did you?

You’re also right; there are tons of things which have intrinsic value, yet we hear nothing but WE MUST RETURN TO A GOLD STANDARD and FIAT MONEY IS THE TOOL OF THE CORRUPT POLITICIANS and more useless retardery. If you can find any *fiat money* which someone won’t accept, feel free to send it my way, OK?

And finally, I find it difficult to believe ***** veracity in this column when he also promotes a supporter of deficit spending during wartime and the use of inflation, Nobel laureate Milton Friedman.

I swear, it’s like half-Prisonplanet.com.

]]> By: TreyFu http://www.gonzotimes.com/714/inflation-is-theft/comment-page-1/#comment-1499 TreyFu Thu, 08 Oct 2009 12:39:09 +0000 http://www.gonzotimes.com/?p=714#comment-1499 @Ninja R If you read the article carefully, no implication was made asserting the Fed as being a completely private organization. In regard to your comment about oil, real estate, and gold, all of these have intrinsic value and can never be worth nothing, regardless of the currency in which they are priced. A fiat currency, which is only worth something if people are willing to accept it in payments of debt, can be reduced to a value of virtually zero. This type of devaluation of a currency has happened countless times in history, most recently in Zimbabwe and Argentina. @Ninja R If you read the article carefully, no implication was made asserting the Fed as being a completely private organization. In regard to your comment about oil, real estate, and gold, all of these have intrinsic value and can never be worth nothing, regardless of the currency in which they are priced. A fiat currency, which is only worth something if people are willing to accept it in payments of debt, can be reduced to a value of virtually zero. This type of devaluation of a currency has happened countless times in history, most recently in Zimbabwe and Argentina.

]]> By: Ninja R http://www.gonzotimes.com/714/inflation-is-theft/comment-page-1/#comment-1490 Ninja R Wed, 07 Oct 2009 21:37:56 +0000 http://www.gonzotimes.com/?p=714#comment-1490 Oh boy! Another guy saying the Federal Reserve is exclusively private. Never heard that one before! Next, let's talk about how nothing else in the world has any value (like oil and real estate) whatsoever except gold! Oh boy! Another guy saying the Federal Reserve is exclusively private. Never heard that one before! Next, let’s talk about how nothing else in the world has any value (like oil and real estate) whatsoever except gold!

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