Established in 2006 as a Community of Reality

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Neno's Place Established in 2006 as a Community of Reality


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I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


2 posters

    Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting

    Lobo
    Lobo
    Lobo
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    Moderator


    Posts : 28411
    Join date : 2013-01-12
    • Post n°1

    Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting Empty Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting

    Post by Lobo Mon 02 Nov 2015, 10:58 am

    Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting

    Posted on November 2, 2015 by Martin Armstrong

    Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting 226x310xsay-jb.png.pagespeed.ic.hKQDrQ1R0j
    QUESTION: Martin; Why in the world anyone would invest in government debt when they all default in the end?
    GH
    ANSWER: Honestly, most people are oblivious to the fact that governments always default in modern times. Jean Baptiste Say took the position that a rational businessman will never hoard money because of inflation and he will promptly spend any money he gets “for the value of money is also perishable.” (“A Treatise on Political Economy”, Book I Chapter XV, 1803 id/138–9). Before modern times, money was ALWAYS debased or devalued as a means of paying expenses. It was easier to do this, even when using metal for coins, than to tax or borrow.
    Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting 153x192xedward1.png.pagespeed.ic.T9EP0exBE6
    In the modern era, the princes of Europe began to borrow money and quickly learned to imprison and default on their bankers. Edward I of England borrowed from the Jews, and when he could not repay, he suddenly discovered that they were Jewish and banned them from England while not allowing them to take property.
    Honestly, it is just insane. They do not do their research and governments are always responsible for creating wars and destroying the savings of the people. Adam Smith in his 1776 “Wealth of Nations” expressed it best.
    Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting 859x286xSmith-Impertinence-of-Kings.jpg.pagespeed.ic.xwVBMCL98C
    We are just fools. We insanely believe that we can create change by replacing one politician with another. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up, for your future belongs to the madness and corruption of politicians.
    This entry was posted in Q&A and tagged Adam Smith, debasement, Government Debt, Jean Baptiste Say by Martin Armstrong. Bookmark the permalink.
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    CITEX
    CITEX
    CITEX
    Insane Investor
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    Posts : 889
    Join date : 2012-12-20
    Age : 56
    Location : Grapevine Texas
    • Post n°2

    Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting Empty Re: Money Is Also Perishable – Debasement & Devaluation Easier Than Taxing or Defaulting

    Post by CITEX Mon 02 Nov 2015, 1:43 pm

    An Ounce of gold will purchase almost the same amount of goods as it did 2000 years ago, devaluation (is that's a word) has always been a way to raise taxes without requiring a vote. Same as printing more cash into circulation. There is a reason it takes certain actions before a public company can just add more stocks available, those folks understand that this is theft from their existing stock holders value... printing cash is absolutely no different.
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