Why does it need to come from any where? It already exists. Silly question.
Because if we are going to have any of it we would need to get some of it. If we can’t get any of it then why even discuss using it because history has proven that the people never wanted to use the gold for money and they always preffered the paper over the gold. Any study of history shows this.
Where in the austrian creed to we mandate gold? Austrian’s argue that whatever unit of exchange that will be most widely used is emerged as a market entity.
Then the Austrians should praise bank credit as the best medium of exchange because there is no law calling it money but it’s what we use for money. It’s so widely used that you can purchase anything in the world, including gold.
Why does there need to be a quantity? What kind of nonsensical asinine concept do you have to make you think we all need exactly X units of gold to function. Also why does it have to be gold? Why not silver? Why not platinum? Why not a mix? Who knows what will be realized when the violent imposition of a fiat monetary system is removed.
There needs to be enough quantity in order for soceity to function. If farmers can’t plant crops (takes money) then we all starve. If there isn’t enough money to buy gas we can’t drive, ect… Why would you want to use metals anyways? If the people preffered metals so much right now they would just use the U.S. Coinage all the time anyways. People preffer using the checking accounts, it’s easier, more convient, and it works. P.S. We don’t have a fiat money system, even Ben Bernanke will tell you that. We have a credit money system with a very small fiat component.
You tell me, how much gold SHOULD everyone have based on your arbitrary assumptions? Maybe you should pull out your trusty calculator for this one.
There simply isn’t enough gold ever mined in the history of the world to make it work as a medium of exchange. I don’t hate gold or love it, but I’ve done the math. YouTube Byron Dale “can we go to gold” he did the math, and it is correct. There just isn’t enough. The principles of gold/silver under the 1792 free coinage act is what is important.
How did it originally get put into circulation? How did paper money get put into circulation? How do cigarette’s get put into circulation? This detail is not for us to decide. We are not gods or socialist dictators. Consumers demand how it gets circulated, not us.
Gold always went into circulation as a wealth under the 1792 free coinage act. When the banking system switched us off from allowing gold/silver to be freely monetized they switched our money from an evidence of wealth to an evidence of debt. It matters not what you use for money but the principles under which it functions. But the paper money still wasn’t the true money in the system, it switched over to “bank credit” or the banks “promise to pay” which is still what we use for money today.
Do you know what an economy is? Because based on your 4 “important” quotes before it seems you missed the boat somewhere. Also quotes aren’t really references. Do you mind citing an actual periodical? I can site you dozens of books =p. You need not leave this site to reach them.
FYI, Economics is not the study of monetary theory. Monetary theory is but one sub-catagory.
I have no idea what an economy is, how about you tell me, and while we are at it can you tell me what the fuel that drives an economy is, and how that fuel can be used to only benifit a few people at the top or benifit all of society. What is the most effective tool for transfering all the wealth of the people into the hands of a few? Can you tell me what wealth is and the only way it can be created?
When did I say anything about monetary theory, I am stating monetary fact? Its the way our system works.
