ok lol
Except private courts seem more ancap than minarchist
Ye I’m just saying how it would work
minarchist are courts, police, military
Ok so
do you think the government should provide a uniform currency or should currency be privatized
How would you privatise currency
I think it shouldn’t be backed by nothing
Like full-on bitcoin paradise
You would support gold standard??
*?
Ye
See, I would prefer non-inflationary fiat to gold standard for reasons that I think you could agree with too
Well you can’t have that
It’s inherently inflationary
I mean, printing money only at rate of economic growth
Just the bare minimum to stop deflation
No fed, no central bank
Just a producer of currency to meet demand and no more
That would be be, in my opinion, superior to gold-backed
What’s wrong with deflation
there’s nothing wrong with deflation in any way
visitor here come the central planning talk again
Printing money will always cause inflation
And boom and bust cycles
Inflation can't really cause boom and bust if it's constant, for the same reason it can't stimulate the economy if it's constant (according to Hayek).
Inflation is taxation without legislation
It shouldn’t exist
Inflationary booms have been caused by this increase in money supply through the century
Yet there were tons more recessions before we left the gold standard
Which brings me to my next point
Because of this very cheap credit expansion
A gold-based currency depends a lot on the value of gold, which can fluctuate and cause problems. That's really the main thing.
Look at the individual policies enacted in those periods
they won’t cause problems
That’s a myth itself
Like I said, if we avoid discussion about central banking for a minute, I think gold-backed currency has problems that you could agree on.
As in, most of the later 1800s, there was a rising demand for currency coupled with a constant supply that squeezed creditors and restrained the economy.
Plus, new gold discoveries can cause inflation too.
And if someone tried to corner the market on gold, that could cause a huge problem for the money supply.
Not to mention that gold is just hard to use and move around.
