Post
Topic
Board Economics
Re: Interest rates in a deflationary currency
by
myrkul
on 04/06/2013, 21:40:14 UTC
Politics would be another appropriate area for debating usury.  Most of the Austrians that he refers to are probably also libertarians, which would justify his confusion.

I could totally see libertarians arguing that saving is good (especially when the discussion involves government).
Yeah, he's getting a little mixed up. Personal finance is not national monetary policy. Personal finance, borrowing/saving dichotomy is no big thing. National monetary policy, borrowing/saving becomes a big thing.

You can't send robots to Mars by basing your endeavor on Ptolemaic model of the universe. You can't use decentralized, limited-supply currency based on archaic concepts of debt money and interest.

You know, they charged interest on loans denominated in gold, too. "Debt money" is a relatively new concept.