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Very Hot Topic (More than 25 Replies) Inflation Is Just Another Tax (Read 540 times)
SicklersDink
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Re: Inflation Is Just Another Tax
Reply #20 - Jul 25th, 2018 at 11:41pm
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SkyChief wrote on Jul 25th, 2018 at 6:17pm:
Before FDR outlawed gold in 1933, cars were often purchased with gold.

I often buy tobacco and get haircuts with silver.  And sometimes our auto mechanic will take silver in lieu of cash for his work,  but only when his work doesn't require parts.   I don't know why this is.


I didn't say that gold bugs can't buy cars with gold you schmuck, I said that they don't.
  
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SkyChief
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Re: Inflation Is Just Another Tax
Reply #21 - Jul 26th, 2018 at 1:41am
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I didn't say that gold bugs can't buy cars with gold you schmuck, I said that they don't.


Here's what you actually said - or asked:

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Is anybody so stupid as to think you would try to buy a car with gold? Duhhhhh!

Which is a fairly asinine question to ask. 

Nothing more than a vapid jab at people who understand that gold is money.

You consistently fail at everything you do.  Don't you ever tire of failure, Dink?
  
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Jeff
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Re: Inflation Is Just Another Tax
Reply #22 - Jul 26th, 2018 at 7:44am
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The Opposition wrote on Jul 25th, 2018 at 11:25pm:
They shouldn't have the power to control interest rates - that's force - but they absolutely should be able to manufacture as much as they like, of whatever good they produce.
It seems clear that creating "money" that legal tender laws require people to accept as payment for any debt is not just "manufacturing a good".
  
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Jeff
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Re: Inflation Is Just Another Tax
Reply #23 - Jul 26th, 2018 at 7:49am
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The Opposition wrote on Jul 25th, 2018 at 11:25pm:
That depends on what you mean by healthy. Some people don't think there should be a damper on malinvestment. Your money, your choice. Choose wisely.
When borrowing money is cheap, which it is when the economy is flooded with money, people tend to speculate more, and the speculation drives the economy so that any and every investment seems a sure thing to earn lots of money.

Yes, people spending their own money must be allowed to make bad investments, but an inflated money supply encourages bad investments. That's how economic bubbles are created, and the bigger the created bubble, the more damage is done when it bursts.
  
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Jeff
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Re: Inflation Is Just Another Tax
Reply #24 - Jul 26th, 2018 at 7:52am
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The Opposition wrote on Jul 25th, 2018 at 11:25pm:
You can go extreme libertarian on this and say that the more malinvestment opportunities, the better the economy is, because it presents the scammers with more ways to non-aggressively relieve people not as clever of their money. In other words, more competition, more good and bad options, more chances to succeed, and more chances to fail.
You could say that, except that when bubbles burst, the entire economy is hurt and lots of people who aren't investors lose their jobs and their houses and their cars...




  
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SicklersDink
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Re: Inflation Is Just Another Tax
Reply #25 - Jul 26th, 2018 at 11:45am
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SkyChief wrote on Jul 26th, 2018 at 1:41am:
Here's what you actually said - or asked:

Which is a fairly asinine question to ask. 

Nothing more than a vapid jab at people who understand that gold is money.

You consistently fail at everything you do.  Don't you ever tire of failure, Dink?


Rudeness that's not worth answering to.
  
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The Opposition
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Re: Inflation Is Just Another Tax
Reply #26 - Jul 26th, 2018 at 12:31pm
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Jeff wrote on Jul 26th, 2018 at 7:52am:
You could say that, except that when bubbles burst, the entire economy is hurt and lots of people who aren't investors lose their jobs and their houses and their cars...


They'll be more careful about where they work in the future. Try to avoid being propped up by bubbles.

Jeff wrote on Jul 26th, 2018 at 7:49am:
When borrowing money is cheap, which it is when the economy is flooded with money, people tend to speculate more, and the speculation drives the economy so that any and every investment seems a sure thing to earn lots of money.

Yes, people spending their own money must be allowed to make bad investments, but an inflated money supply encourages bad investments. That's how economic bubbles are created, and the bigger the created bubble, the more damage is done when it bursts.


By "damage done" you don't mean aggression, so why would a libertarian care?

Again, all a limited money supply does is make the economy fair, ensuring that even a member of the working class gets to enjoy $20 worth of stuff if he earned $20. There are people who would argue that that's not the way they want it to be.

The Federal Reserve, again, is NOT part of the government. They should be able to do whatever they want, as long as they don't aggress.

Without the law forcing people to take dollars, maybe they wouldn't. Maybe people would wake up and realise they're being non-aggressively robbed of their earnings.

But maybe they wouldn't.

Jeff wrote on Jul 26th, 2018 at 7:44am:
It seems clear that creating "money" that legal tender laws require people to accept as payment for any debt is not just "manufacturing a good".


The legal tender laws are the aggression, not the creation of money.

You all rejected the damage to property theory I presented in the old topic, and I actually had a good case that didn't just involve making statements - it involved the inflator causing damage to all of that currency currently in existence and simultaneously gaining the value everyone else lost - it's basically theft.

You rejected it, you refuted it, you won, and I changed my view.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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SicklersDink
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Re: Inflation Is Just Another Tax
Reply #27 - Jul 26th, 2018 at 12:45pm
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The Opposition wrote on Jul 26th, 2018 at 12:31pm:
They'll be more careful about where they work in the future. Try to avoid being propped up by bubbles.


By "damage done" you don't mean aggression, so why would a libertarian care?

Again, all a limited money supply does is make the economy fair, ensuring that even a member of the working class gets to enjoy $20 worth of stuff if he earned $20. There are people who would argue that that's not the way they want it to be.

The Federal Reserve, again, is NOT part of the government. They should be able to do whatever they want, as long as they don't aggress.

Without the law forcing people to take dollars, maybe they wouldn't. Maybe people would wake up and realise they're being non-aggressively robbed of their earnings.

But maybe they wouldn't.


That's a post that is better than being put down as a 'lizard' again. When you go off on vulcans, tigers, and hippos, oh my, then you get what you deserve from him.

And I'm going to be right with him when he does it justifiably.
  
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The Opposition
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Re: Inflation Is Just Another Tax
Reply #28 - Jul 26th, 2018 at 12:52pm
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That's a post that is better than being put down as a 'lizard' again. When you go off on vulcans, tigers, and hippos, oh my, then you get what you deserve from him.

And I'm going to be right with him when he does it justifiably.


Eleventh time you're lording this over me. You can't make a post without doing it.

Yet you say you'd be content to warn me once? Give me a break.

Yes, Don, you have de facto mod powers because you're a report bunny. I can see you're enjoying them. Just ban me and be done with it.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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SicklersDink
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Re: Inflation Is Just Another Tax
Reply #29 - Jul 26th, 2018 at 12:56pm
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The Opposition wrote on Jul 26th, 2018 at 12:52pm:
Eleventh time you're lording this over me. You can't make a post without doing it.

Yet you say you'd be content to warn me once? Give me a break.

Yes, Don, you have de facto mod powers because you're a report bunny. I can see you're enjoying them. Just ban me and be done with it.


I have not been interacting with Land of Freedom on issues that concern you.

When you're ready to turn over a new leaf I'll be ready to excuse all your bad behaviour of the past. I think you've actually started to demonstrate that you want to join the adults on this forum.

And I also think that you can be one of the best contributors of the lot when you try.
  
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