*promote

Self promoting this video and sending it back into the queue for one more try; last queued Wednesday, August 10th, 2011 9:26pm PDT - promote requested by original submitter blankfist.

"I do believe that every individual should be free to own, buy, and sell gold. If under those circumstances a private gold standard emerged, fine—although I make a scientific prediction that it’s very unlikely. But I think those people who say they believe in a gold standard are fundamentally being very anti-libertarian because what they mean by a gold standard is a governmentally fixed price for gold."

-Milton Friedman

Also:

http://delong.typepad.com/sdj/2009/03/the-earlier-you-abandon-the-gold-standard-and-start-your-new-deal-the-better.html

*nochannel
*politics
*money
*history
*talks
*british

This video has been removed from all channels (Wtf, British, Lies, Politics, Fear, Money) due to invalid channel assignment - nochannel invoked by NetRunner. Please review the FAQ to learn about appropriate channel assignments.

Adding video to channels (British, History, Money, Politics, Talks) - requested by NetRunner.

But, but, but....Milton Friedman is an... liberty... bitcoins.... statism.... bitcoins... Ron Paul... minarchy..... classical liberal.... statist.... tyranny..... statist...... statist... Milton Friedman es muy.... liberterrier... statiststatiststatistatis..... you are an bitcoin...DOES NOT COMPUTE... you are an tyranny..... 00011101010001.... Daissssyyy... Daissseyyy, givve mee yourrrr answ..... Self Destruct in T minus 5... 4... 4... 4..

-END OF LINE-

And Scene.>> ^NetRunner:

"I do believe that every individual should be free to own, buy, and sell gold. If under those circumstances a private gold standard emerged, fine—although I make a scientific prediction that it’s very unlikely. But I think those people who say they believe in a gold standard are fundamentally being very anti-libertarian because what they mean by a gold standard is a governmentally fixed price for gold."
-Milton Friedman
Also:
http://delong.typepad.c
om/sdj/2009/03/the-earlier-you-abandon-the-gold-standard-and-start-your-new-deal-the-better.html

>> ^NetRunner:

"I do believe that every individual should be free to own, buy, and sell gold. If under those circumstances a private gold standard emerged, fine—although I make a scientific prediction that it’s very unlikely. But I think those people who say they believe in a gold standard are fundamentally being very anti-libertarian because what they mean by a gold standard is a governmentally fixed price for gold."
-Milton Friedman
Also:
http://delong.typepad.c
om/sdj/2009/03/the-earlier-you-abandon-the-gold-standard-and-start-your-new-deal-the-better.html


And he's right about the "governmentally fixed price for gold", and if it was legal in this country to offer competing currencies I don't think many people would care whether the USD was backed by gold or not. But because we're forced to use one central currency, it should at the very least be value backed.

What Keynes was talking about was that the gold standard was causing deflation because there just wasn't enough gold in the world to make enough currency to keep up with economic growth. Put that in your pipe and smoke it.

>> ^blankfist:

And he's right about the "governmentally fixed price for gold", and if it was legal in this country to offer competing currencies I don't think many people would care whether the USD was backed by gold or not. But because we're forced to use one central currency, it should at the very least be value backed.


The way I understand it, you can legally offer and accept another currency, it's just that you aren't allowed to refuse to accept dollars as settlement of debts incurred.

That's why it's legal to use gold, bitcoins, gift cards, frequent flyer miles, Xbox live points, WoW gold, etc. Even credit cards and checks aren't actually legal tender.

>> ^NetRunner:

>> ^blankfist:
And he's right about the "governmentally fixed price for gold", and if it was legal in this country to offer competing currencies I don't think many people would care whether the USD was backed by gold or not. But because we're forced to use one central currency, it should at the very least be value backed.

The way I understand it, you can legally offer and accept another currency, it's just that you aren't allowed to refuse to accept dollars as settlement of debts incurred.
That's why it's legal to use gold, bitcoins, gift cards, frequent flyer miles, Xbox live points, WoW gold, etc. Even credit cards and checks aren't actually legal tender.


mo·nop·o·ly /məˈnäpəlē/ Noun
The exclusive possession or control of the supply or trade in a commodity or service.

So, two questions. 1. would you say the US government has "control" over the supply or trade of the commodity of monies?

2. If you can "legally offer and accept another currency" why did these guys get raided if competing currency is legal? http://en.wikipedia.org/wiki/Liberty_Dollar#Federal_Government_response

@NetRunner,

Pro Tip #1: Know your law: http://www.law.cornell.edu/uscode/html/uscode18/usc_sec_18_00001960----000-.html

Pro Tip #2: [hint: starts at 2:30]

@blankfist you're obviously still in one of these really hostile moods.

First, I said "The way I understand it..." which is to say, I myself was indicating I didn't know for sure.

Second, you've not actually invalidated what I said at all. A guy who wants to start his own currency, but then gets indicted and convicted for running an unauthorized coin mint, and fraudulently presenting those coins as legal tender, doesn't prove that making your own currency is illegal, it means running an unauthorized mint and using the coins as counterfeit dollars is illegal.

On your other link, all it says is that you need a license to transmit currency across state lines, and describes the regulations that apply. Nothing from that link says you have to conduct your transactions in dollars.

You also haven't addressed the examples I provided. Are you saying credit cards and checks are illegal? Are you saying WoW gold and gift cards are illegal? That they're not currency? What about Ithaca Hours? What about all of these?

I honestly don't care whether it's illegal to use alternative currencies or not. I'm mostly just trying to cheer you up by trying to convince you that you're not actually as oppressed as you think you are.

"unauthorized mint"

See? It's unauthorized because it'd be competing with the USD. If I wanted to open my own phone company, would it be fair to have AT&T "authorize" my operation?

And no checks and credit cards still use USD, so they're not competing currencies. Follow the money. If at the end of it it's USD, then it's not a competing currency. It goes like this. I purchase a gift card for $20 USD. That gift card isn't its own currency with its own value, it's only valued in USD, so it's essentially $20 in USD. Watch me turn this US Dollar into a US Dollar! Abracadabra!

Lastly, not sure why you think the Liberty Dollar was counterfeit. They never claimed they were legal tender. Only a competing currency backed by a valued commodity: gold. But every monopoly hates competition, so the US Government decided to not only stop the Liberty Dollary, they also confiscated stole the company's gold reserves.

Not being hostile. Just bringing the slaps across the cheeks with my ball sacks.