imagine taxing the rich

They are people too, they need to be taxed

Like everyone else

I'm sure SINT will poo poo this, but I'll post it

https://www.nbcnews.com/business/economy/dozen-years-after-2008-recession-different-kind-debt-threatens-world-n1151801

https://www.ft.com/content/27cf0690-5c9d-11ea-b0ab-339c2307bcd4

Hey can any ancap explain to me how money would work if there would be no government to print it or anyone to regulate illegal printing.

Just curious thats all.

GG @ᴏᴠᴇʀꜱᴇᴇʀ ꜱᴛʀᴀꜱꜱᴇʀ, you just advanced to level 2!

Shoot anyone with to much money

GG @Deleted User, you just advanced to level 15!

Trade one of your child slaves for a 7.62 and blow their fucking head off

But do it from a distance, don’t get to close to their property or everyone else will blow your fucking skull in for tresspassing

Remember

If any of his property gets on your property thats a violation of the NAP

Uh careful with the violence and child slave talk

@ᴏᴠᴇʀꜱᴇᴇʀ ꜱᴛʀᴀꜱꜱᴇʀ I’m not ancap but banks would print their own money and target fraud via themselves - it’s like what the treasury does but the independent note issuers will conduct these operations themselves. It’s called free banking, I do support free banking to a large extent however I’m not exactly an anarchist so I don’t support competitive note issuing.

That would devalue the currency though

What would be gained by that?

Like it’s just the same system except no control over monetary policy

There’s a lot to be gained.

I.e we stop/reduce the business cycle among other things.

Doesn’t the business cycle argue that booms are started in part by an over-expansion of credit, which leads to a market correction?

A business cycle occurs when the market rate of interest falls below the natural rate of interest. A boom is created via this then an eventual bust.

Ok, so how does taking monetary policy out of the government’s hands prevent interest rates from falling below the natural interest rate?

Because the market rate will now be uninfluenced, it will follow the natural rate.

The natural rate of interest is the rate in which time preferences are equilibrated, savings and investments are allocated effectively. This rate is existing without the central bank’s intervention.

Is that what happened before the Federal Reserve existed?

@sɪᴅɪsɴᴏᴛʜᴇʀᴇ except any nation that does have central banking can manipulate your currency, so that’s fun

And you have no way to combat hyperinflation

And if you don’t have a gold standard you have no way of even regulating currency supply

and if you do have a gold standard, you basically need a central bank to administer it

@Sophie that’s what I was trying to build to lol

Lol sry

That is very well said, however

Thanks 🙂

The other option is making your coins out of precious metals, but then you have big problems with electronic transfers, currency values aren’t pegged to each other (4 quarters might not equal a dollar) and you’re subject to debasement

@abby_ella Yes, but no.

@Sophie A free banking system is capable to combating hyperinflation, if inflation is too high interest rates naturally rise.
> And if you don’t have a gold standard you have no way of even regulating currency supply
> and if you do have a gold standard, you basically need a central bank to administer it
We had a gold standard without a central bank.

We did, and we had mass panics once or twice a decade

Prior to the FED the business cycle was less severe, less persistent and had shorter recovery times.