> So if so many policy makers seem so comfortable with having no control over
> their interest rates and exchange rates, and forcing their economies into
> inflation and deflation, why not peg the currency to gold and go for free
> banking?
>
> David Hillary
Then they wouldn't be able to intentionally create the same type
of damage (theft) counterfeiters do. Governments and counterfeiters
are competitors.
Unelected bureaucrats at the treasury and central bank take people's
property in an unauthorized and arbitrary manner when they create
too much currency intentionally. It's plain 'ol robbery.
People store value in currency. When too much currency is created
relative to demand, it loses some of it's value. People who have
value stored in that currency lose some of that stored value.
Just what do you think the rational behind making counterfeiting
illegal is?
Bob
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