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>> I'm willing to concede decreasing purchasing power in exchange for some other advantage That may be, but that's something everyone should get to choose for

>> I'm willing to concede decreasing purchasing power in exchange for some other advantage That may be, but that's something everyone should get to choose for themselves. In today's world, we don't, and that's wrong. Besides, we're not even getting any advantages "in exchange" for losing our purchasing power to the machinations of governments and central banks everywhere. We're just getting milked and fleeced six ways from Sunday all the time.

mikeash 12y ago
Are you proposing that each person should be able to choose the level of inflation that their own assets are subject to? How would that work?
- honeybooboo123 12y ago
  Nope, I'm suggesting that we should be able to choose which currency to use. But now we can't. If we could, we'd choose a sound currency, and then our purchasing power would keep increasing steadily (because of productivity improvements and wealth accumulating over time).
  - mikeash 12y ago
    We can't? I mean, I have to obtain USD to pay my taxes, but otherwise I can use currencies at will. I have a hard time finding anyone local who will accept or pay me in anything besides USD, but that's their own choice to do so.
    - honeybooboo123 12y ago
      That's misleading. It's not that everyone keeps choosing to use USD. They're all forced to pay taxes in USD too. If they weren't, they'd prefer a currency that can't be manipulated and that won't keep losing purchasing power. In other words, they would be using a sound currency. Oh, and if you spread an alternative currency, you will be imprisoned: http://en.wikipedia.org/wiki/Liberty_dollar http://en.wikipedia.org/wiki/Liberty_dollar > On March 18, 2011, von NotHaus was pronounced guilty of "making, possessing, and selling his own currency" So there you have it. We peons are not allowed to use sound currencies, because it's not in our rulers' interest.

mikeash 12y ago

Are you proposing that each person should be able to choose the level of inflation that their own assets are subject to? How would that work?

honeybooboo123 12y ago
Nope, I'm suggesting that we should be able to choose which currency to use. But now we can't. If we could, we'd choose a sound currency, and then our purchasing power would keep increasing steadily (because of productivity improvements and wealth accumulating over time).
- mikeash 12y ago
  We can't? I mean, I have to obtain USD to pay my taxes, but otherwise I can use currencies at will. I have a hard time finding anyone local who will accept or pay me in anything besides USD, but that's their own choice to do so.
  - honeybooboo123 12y ago
    That's misleading. It's not that everyone keeps choosing to use USD. They're all forced to pay taxes in USD too. If they weren't, they'd prefer a currency that can't be manipulated and that won't keep losing purchasing power. In other words, they would be using a sound currency. Oh, and if you spread an alternative currency, you will be imprisoned: http://en.wikipedia.org/wiki/Liberty_dollar http://en.wikipedia.org/wiki/Liberty_dollar > On March 18, 2011, von NotHaus was pronounced guilty of "making, possessing, and selling his own currency" So there you have it. We peons are not allowed to use sound currencies, because it's not in our rulers' interest.