On Friday, September 19, 2003, at 07:38 AM, FileMatrix wrote:
Dear Patrick,
Many of you constantly refer to USA and Fed as they are universal standards.
I did no such thing. I know that we were discussing fiat tokens in general, but I wanted to illustrate that I do not mind if two people trade voluntarily using fiat tokens of any kind. I chose USD because I wanted to show what my TRUE objections were. If you can show me a government in the world which issues fiat tokens but neither requires the people to pay taxes in those tokens nor requires the people to use those tokens to the exclusion of other forms of trade, then we can discuss that example separately.
Please understand that USA is not the only country in the world, ...
I never suggested that it was. I chose the US to illustrate my primary objection -- the forcing of a fiat system upon a people. Roosevelt was a principal thief in that endeavor.
yet almost every country functions on the same principals, ...
I think you mean "principles" here. A principle is a guiding moral doctrine. Principal means leader (or as an adjective, first or most prominent).
though without the same
(military) power. So, the results are the same though these countries can't
force their will on the world. That tells me these methods work because they
are correct, not because they are forced (as USA does).
Again, show me a government that does not force a fiat system on its people. Is there a government that issues fiat tokens but allows payment of taxes in gold or silver, or does not levy taxes at all?
One example is Malaysia, which said would use gold for a few years. The
point is, Malaysia will use gold only until its economy gets back on its
feet. At some point, their economy will exceed the amount of gold they
posses.
Over the last 30 years, the economy of Malaysia has grown at a 7% average annual rate. The savings rate is 40%. It sounds like their economy is already "on its feet."
http://www.mises.org/fullarticle.asp?control=1313
I wonder what Robert S.Z. has to say about Malaysia using gold only for a limited time. In all the discussions of the gold dinar, I never heard that it would be temporary.
I will get to the rest of George's points later. His statements about Malaysia surprised and baffled me, so I'd like to clear this issue up before I proceed any further.
-- Patrick http://fexl.com
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