Many of you may find this Hit & Run blog post interesting
F Reason. They are idiots.
I showed this to someone. His response:
“Weren’t the German gas chambers pretty efficient?”
Do you disagree with the statement “Globalization and international competition have approximated Hayek’s world of competing private banks issuing fiat money”? If so, why?
Just reading the comments on the Reason post made me laugh. Not to mention the article itself:
It’s a very rough approximation. How many currencies can I use to buy goods in international markets? One? Two? Five? Up until recently the only way I could buy oil is with USD.
There is nothing to say about that article as there is no source given about the efficiency of central banks, so that statement is not based on any grounds that can be validated and therefor just an opinion. Not worth thinking about. [;)]
Any thoughts on the Hummel lecture and the response from Caplan?
I’m not familiar with Hayek’s world of competing private banks. I don’t believe that fiat currency could exist in a competitive system. At the very least, it would not be the defacto type of means of exchange.
if you listened to Guido Hulsman on a recent Lew Rockwell podcast, the conclusion he draws, and I would have to agree, is that the central banks around the world collude.
I don’t like (T)Reason. I think they are sellouts, and they do nothing for the cause of liberty. The blogger had to include the shot about Rothbard’s “populist compaints” as though those fools won’t even acknowledge that fractional reserve banking is (1) not understood by an unaware public and (2) is a means to inflate and transfer wealth.
But then, they rarely miss a chance to attack Ron Paul, Lew Rockwell or Murray Rothbard.
They act like currencies are competing stock certificates on a global stock market or something and not forced upon the citizens under pain of death if they chose to use a currency that competes against the fiat.
China and a bunch of other countries went out of their way to ensure their ‘national stock price’ didn’t rise against all the other competing currencies to make their exports especially enticing to western customers which seems to totally blow away the whole premise of the article.
I disagree with Mr. Root with regards to this post; I do not find that globalization and international competition among nation-states have approximated anything close to competing private banks – fiat money or no. However, I do think that Reason Magazine does do something for liberty. Whether you like it or not, Reason Magazine is the best known libertarian magazine in the . Its writers attract readers with wit and humor and, yes, popular culture references. For many in the , if they know what “libertarian” means at all it is either because of the Libertarian Party or because of Reason Magazine. Go into most bookstores and you may not find The Freeman. You may not find Regulation. You almost certainly will not find The Voluntaryist. They many not even have . But they will almost certainly have Reason Magazine. They may not be perfect Rothbardians but they are our allies and we should give them credit for that. For many Americans their magazine is the first news source they have access to that provides news from anything close to a libertarian perspective.
The point is precisely that an awful lot of libertarians and austrians, Hummel, Caplan, White, Selgin do not oppose free market FRB only government meddling with money. Forget Reason, talk about the real stuff, the lecture by Hummel and his exchange with Caplan.
I now have doubts that FRB is fraudulent and I wonder how that would bear on ABCT. It could mean that we would have a market failure.
This was destroyed on RPF of all places.
When does Reason ever take a strong stand against the government? Never?
Hummel lost me when he wrote about Rothbard’s populist complaints. Rothbard had forgotten more about banking than this guy knows.
What is RPF?
So long as the head of the Federal Reserve Bank is appointed by the POTUS, approved by Congress and regulated by federal law the Federal Reserve Bank does not have true independence. If the federal government simply privatized the Federal Reserve Bank and permitted meaningful competition for its services we could talk about “independence” in a meaningful way.
Reason Magazine is a strong opponent of the War on Drugs, (the government’s) War on Poverty, The PATRIOT ACT, censorship in all its forms, they oppose government intrusions into privacy, while not exactly IP opponents they speak out against many abuses of IP, they are opponents of the War in Iraq and, unlike Ron Paul, they actually support the right of an innocent person to (gasp) cross a an invisible line drawn by government thugs. Shall I go on?
Don’t bother going on. You completely misconstrue Ron Paul’s immigration/border position. And the more I talk about Reason, the more ticked off I get.
Really? Perhaps the Ron Paul flyers I was handed had some misprints. Does he not oppose “illegal immigration”?
Start a new thread. If you insist on doing this, it is going to be a long one.
Did done. The new thread is here: https://forum.freecapitalists.org/t/ron-paul-and-invisible-lines-drawn-by-government-thugs/1989