4 ms·

> You have a de facto monetary policy imposed on you whether you like it or not. It is "coercion" only in the sense that it is outside your personal control. N

> You have a de facto monetary policy imposed on you whether you like it or not. It is "coercion" only in the sense that it is outside your personal control. No, it's coercion because I'm forced to pay taxes in a fiat currency of the government's choosing, and alternative currencies are shut down (by force, of course): https://en.wikipedia.org/wiki/Liberty_Dollar https://en.wikipedia.org/wiki/Liberty_Dollar > This can be the blind "coercion" of a computer algorithm, the unintentional "coercion" of precious metals mining See above. Not that you're being sincere. > Removing people from the equation is an option, but it doesn't remove the market forces. I haven't talked about removing people from the equation. It wouldn't make sense either, because "market forces" consist of people's actions in the market. What else could it be? It's very simple once you grasp even the very basics of how money and economies work.

hapless 13y ago
If you rely on precious metals as money, they make a perfectly good medium of exchange. Unfortunately, the money supply will still change. Imposing a fixed amount of money on the world does not somehow imply that there is a fixed supply of money. This was a central problem in European economies for thousands of years. You hate the central banks. Great. What's your solution? Chaining your economy to precious metals or a computer algorithm is an unpleasant alternative. (An interesting historical option: rather than precious metals, Chinese accounts were historically backed by the productive capacity of the land. i.e. capital was defined in terms of rice. This had its own ugly side-effects. Still, it was, in many ways, less ugly than relying on precious metals, since money supply was at least somewhat correlated with economic activity)

4 ms·

> You have a de facto monetary policy imposed on you whether you like it or not. It is "coercion" only in the sense that it is outside your personal control. N

by whatevsbro 13y ago

hapless 13y ago
If you rely on precious metals as money, they make a perfectly good medium of exchange. Unfortunately, the money supply will still change. Imposing a fixed amount of money on the world does not somehow imply that there is a fixed supply of money. This was a central problem in European economies for thousands of years. You hate the central banks. Great. What's your solution? Chaining your economy to precious metals or a computer algorithm is an unpleasant alternative. (An interesting historical option: rather than precious metals, Chinese accounts were historically backed by the productive capacity of the land. i.e. capital was defined in terms of rice. This had its own ugly side-effects. Still, it was, in many ways, less ugly than relying on precious metals, since money supply was at least somewhat correlated with economic activity)