4 ms·

Even if we disregard property taxes, which most countries and states have one way or another, the way they tax you just to "be there" is by debasing the currenc

by swombat 15y ago

Even if we disregard property taxes, which most countries and states have one way or another, the way they tax you just to "be there" is by debasing the currency. Two years ago, $700 would have bought you an ounce of gold. Today, they buy less than half. That has absolutely nothing to do with inflation, so I'm not sure why you're conflating the two points, it really weakens your position. As for the government not being allowed to "tax you just to be there", what on earth makes you think that your money is yours? Money and wealth are social constructs. If you want them, you have to accept the social obligations that come with them. Get rid of government, and your money (gold or otherwise) is entirely worthless. The only thing of value without some form of government is either a sack of potatoes, or a sword to steal your neighbours' potatoes.

WalterBright 15y ago
Gold, going back to ancient times, has a remarkable ability to hold value regardless of governments.
beagle3 15y ago
> That has absolutely nothing to do with inflation, so I'm not sure why you're conflating the two points, it really weakens your position. I did not mention the word "inflation" in my post, and I'm not sure why you did. There are many sources of inflation, one of which is currency debasing, which is the only one that I referred to. > As for the government not being allowed to "tax you just to be there", what on earth makes you think that your money is yours? Money and wealth are social constructs. If you want them, you have to accept the social obligations that come with them. I didn't say they are not allowed - but the post I was replying to stated that "only the mafia taxes you for being there, governments don't", which is false (and I gave examples for that). I don't have a problem with being "taxed just to be there". I do have a problem that the way this tax is applied is essentially (a) hidden from view and (b) decided by 5-10 people in every country, who usually have the banking system's best interests in mind. Currency debasing is a taxation method that hurts the people who saved, and rewards the people who were living on credit (that is, beyond their means). I don't know about you, but I think it is a horrible policy. > Get rid of government, and your money (gold or otherwise) is entirely worthless. The only thing of value without some form of government is either a sack of potatoes, or a sword to steal your neighbours' potatoes. As WalterBright remarked, gold is a surprisingly good store of wealth over the last 2000 years or so, and has kept its buying power despite political and economical changes that have rendered fiat money worthless. (No, I can't understand it, and it might not maintain that value in the future -- but disregarding thousands of years of history just because they make no sense is also not a good strategy)

by swombat 15y ago

WalterBright 15y ago

Gold, going back to ancient times, has a remarkable ability to hold value regardless of governments.

beagle3 15y ago

> That has absolutely nothing to do with inflation, so I'm not sure why you're conflating the two points, it really weakens your position. I did not mention the word "inflation" in my post, and I'm not sure why you did. There are many sources of inflation, one of which is currency debasing, which is the only one that I referred to. > As for the government not being allowed to "tax you just to be there", what on earth makes you think that your money is yours? Money and wealth are social constructs. If you want them, you have to accept the social obligations that come with them. I didn't say they are not allowed - but the post I was replying to stated that "only the mafia taxes you for being there, governments don't", which is false (and I gave examples for that). I don't have a problem with being "taxed just to be there". I do have a problem that the way this tax is applied is essentially (a) hidden from view and (b) decided by 5-10 people in every country, who usually have the banking system's best interests in mind. Currency debasing is a taxation method that hurts the people who saved, and rewards the people who were living on credit (that is, beyond their means). I don't know about you, but I think it is a horrible policy. > Get rid of government, and your money (gold or otherwise) is entirely worthless. The only thing of value without some form of government is either a sack of potatoes, or a sword to steal your neighbours' potatoes. As WalterBright remarked, gold is a surprisingly good store of wealth over the last 2000 years or so, and has kept its buying power despite political and economical changes that have rendered fiat money worthless. (No, I can't understand it, and it might not maintain that value in the future -- but disregarding thousands of years of history just because they make no sense is also not a good strategy)