Quote from: Adrian-x on May 04, 2013, 04:27:25 PM

Quote from: agentbluescreen on May 04, 2013, 06:17:48 AM

Reserve bankstering works and has always worked just fine, because a Medium of Labour Exchange is actually backed by the labours that it's earning has, or spending will, represent, ALONE!

Fractional Reserve Banking worked to bring about a power shift from feudal monarchs to the merchant class. FRB is in itself dishonest when you think of money as a commodity (say wheat) it is a flawed human construct. FRB also creates money inflation which is a cause for malinvestment in an economy, the net byproduct of inflation is continued economic growth, (the result of the additional Labour needed to offset the increase in the money supply) which is now unsustainable.

Quote from: agentbluescreen on May 04, 2013, 06:17:48 AM

Yes inflation (and deflation) are ALWAYS everybody's and everything's enemy!

Price inflation and deflation is not in itself good or bad, it is natural market feedback, information provided to members of an economy to make optimal use of resources available. It should be respected not feared and manipulated if the goal is to live sustainability and in peace.

Fractional Reserve came about because metalsmiths realized people dumped the useless precious-metal junk off with them because they couldn't be bothered with the loathsome tasks of dragging it around with them, protecting, hiding and defending it.

Pontifex Maximus JULIUS CAESAR in 48 BC took fractional reserve counterfeiting away from the private bankstering class and coined the first ALL PUBLICLY OWNED (and rented-out) "central reserve bank" money-tokens. This invention enabled him to build vast public works projects and obsolete taxation (for Romans in Rome), since the Republic profited sp handsomely from the correct growth of the public's Medium of Labour-Resource Exchange. He was assassinated by the private banksters (over his overwhelming popularity) for this, and his new calendar.

You silly "hard currency" morons totally confuse a "wealth" (too much of some garbage or rarer COMMODITY) with a "money" (the universal "fractional" token of the PRIME RESOURCE of the values of all labours).

Any mere "commodity", no matter how rare, can and will become easily monopolized by any "economic winner". This is how Joseph enabled Pharaoh to enslave his people (because of their rare, limited and finite "fools-gold" money) during the famine in Egypt. It is exactly what the Rothschilds (and their global bankstering proxies) did ALL OVER AGAIN with the Private Federal Reserve Act in 1913.

Making some stupid rare "commodity" equal to the value of all human labour makes humans a damned "commodity"!

Gold was obsolete in the 1700's. Right now there is less than one ounce of gold per person on earth. This means that (as an average "Producer") all that you could ever do in your entire lifetime could never be worth (paid in-profit, savings or excess) more than a lifetime-maximum of 28 grams of gold. (or you'd have somebody else's, who's entire life's labours would have to be worth less).

The way gold wealth is currently distributed people would have to work weeks for some minute dust-fragment of gold.

Fine art, antiques, collectables and rare gems are "Mediums of Savings" (rare wealths who's values ever increase) generic metals and diamonds are only 2nd or 3rd rate (monopolized) Mediums of Savings, the price/demand for which are solely determined by how much monopolists are willing to pay for "more of their junk".

All other "commodities" are better or worse "Mediums of Investment" depending upon just about everything.

A "money" is (usually) a (national) economies' people's Medium of Labour-Resource Exchange that represents only the "current" sum total values of the fruits of all of their (exportable) PRIME LABOUR RESOURCES. It need not also be something (or anything) else that it is not.

WHAT IT IS IS WHAT IT IS, IT NEED NEVER ALSO BE ANYTHING ELSE (EASILY MONOPOLIZED) THAT IT IS NOT!

This is why an independently owned (by it's bearers and acquirer counter-parties alone) Bitcoin Credit Swap OTC Derivative is an ideal form of Labour-Resource Exchange "currency".

The power to print and own a "money" is the power to either free and liberate, or the power to enslave and own, an entire "human resource" of people. All of these questions have nothing to do with what fiat money simply always must and has to be, they all have EVERYTHING to do with WHO OWNS IT.