Lesson #154 - Fake money for a fake economy - Part 2
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FAKE PAPER MONEY
People are not used to think in terms of coins as fiat money, but that is exactly what they are. What we are used to see as fiat money is paper money. Fiat paper money is equally fake as fiat coin money. The only difference is in its origins.
While fiat coins evolved from commodity-based coins, fiat paper evolved through different related an un-related processes. Historically speaking, we…
Lesson #153 - Fake money for a fake economy - Part 1
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Money is no longer the means of exchange. Well... technically it is, but also it has become something else. In the same manner that real money (commodity-based) was a commodity first and money second, fiat money is a wealth-shifting tool … for enriching selected people and powers first and a means of exchange second.
If you are to remember anything from this lesson, remember that. Current money is a scam,…
Lesson #152 - Real money for a real economy - Part 3
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PREFERRED COMMODITY-MONEY
Over time and throughout history, many commodities have been used as money. This is to be expected since in different circumstances different commodities may be more convenient to be used as money than others. If salt has the necessary properties to become money, it probably will. However, if there is a surplus of salt, maybe tea will become a commodity (as a matter of fact, it did). There…
The look ahead
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In twenty or thirty years people will look back and will say that it was soobvious, that all the signs were there, that only blind people could not see them. How could they have missed it? Never mind. Forecasting is always exceedingly difficult, particularly when it is about the future. Your future, our future, everybody’s future and the least we can say is that it is going to be weird.…
Lesson #151 - Real money for a real economy - Part 2
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WHAT IS MONEY
Ludwig von Mises defined money as the most marketable commodity. What this means is that money is simply stuff (a commodity) that we all want and use to exchange for different stuff.
This commodity, this money, was originally accepted because it had some other use. For example, salt was valuable in antiquity because there were very few places where you could gather it. But, more importantly, it was…
Lesson #150 - Real money for a real economy - Part 1
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Money is simply the means of exchange. Got that? Anybody can understand that. If you can’t, you should get your head checked. What? Too harsh? Tough!.... or… maybe there is something else there. Maybe, just maybe, there is a huge conspiracy and disinformation campaign going on for the longest time to prevent you from understanding this. Could this be possible? Most certainly is!
If you feel that you have been…
Lesson #149 - First come first served - Part 4
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OBJECTIVE AND UNAMBIGOUS
Some scholars are of the opinion (btw elegant sentence, n’est-ce pas?) that property rights and hence Homesteading Principles must be objective and unambiguous. We disagree.
Objectivity is a theoretically un-achievable condition. The reason is simple.
Something is objective if it is a scientific truth. As we have shown in our lesson Political Theories And Systems, no Political and hence Economical Theory is based on science and…
Lesson #148 - First come first served - Part 3
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POSSESION
Some libertarian scholars indicate that we must work the property to demonstrate our “possession” of it. The idea being that if we don’t possess the property, we can’t work on it, or we should not be working on it with the intention of possessing it.
Other scholars are of the opinion that ownership is the reward for our labor. Some others indicate that since our labour is ours, when we…
Lesson #147 - First come first served - Part 2
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THE HOMESTEAD PRINCIPLE
Most people would have no clue whatsoever what the topic of conversation would be if we would to mention this principle by its name. It is just another case where semantics gets in the way. The Homestead Principle is simply our old friend, the deal, with a few clarifications. Incredibly enough, it is all that’s needed. Let’s get to it.
In general terms the principle reads:
Ownership…
