100 Percent Reserve Money: The Small Change Challenge

Economics Economics Questions
1

I just read 100 Percent Reserve Money: The Small Change Challenge (Selgin) and found that Selgin now comes with his FRB idea through the small change problem. I think that the issue of 100% gold standard or FRB is all a matter of semantics (we should define deposit as a debt or as a bailment), and despite I think that it’s not fraud (it’s still a free contract), it’s not viable in a free society where, for example, libel law suits won’t be outlawed. I think that the small change challenge would be solved by two parallel standards (as Selgin mentions in his article, but considers very difficult to apply in practice). Any opinions?

2

No opinions. Just the fact that small change is a non-problem that only exists in Selgin’s mind. Well other people who want to sell their non-solutions to non-problems may share Selgin’s ideas, granted.

3
4

lol. There’s something really wrong (with you) when the only ‘authority’ you can invoke is his majesty Stratton.

5

Even a “broken” libertarian is right twice a day.

6

I’ve noticed that the ultimate ‘argument’ against people who have no faith in the FRB cult is to call them ‘rothbardian’.

Have you ever seen that ? Maybe it is a fallacy of sorts ?

X : presents flawed monetary system
Y: points out flaws in theory
X: oh my god ! you are a ROTHBARDIAN !!!
X now feels better.

Yet I don’t think that’s right, not even twice a day.