socialize_me
02-27-2009, 02:07 AM
Just curious...I'm reading/watching up on Somalia and find it fascinating...far more than meets the eye (how often have I had to say that in the past year and a half).
Anyway, my question is this..if Somalia is a genuine complete free market, why is it they are still using old Somali notes printed under the former government of Siad Barre?? Considering Gresham's Law doesn't apply as there are no legal tender laws, why hasn't the Somalian free market accepted Gold or Silver to replace Fiat Paper as Ron Paul has suggested, how Friedrich Hayek proposed, and how logic seems to agree with it?? I realize some private agencies have started creating currency in Somalia, but the ones I have come across are all fiat...
Where's the gold? Where's the silver? This is about as free market as you can get...why are they accepting worthless paper to purchase real goods??
Anyway, my question is this..if Somalia is a genuine complete free market, why is it they are still using old Somali notes printed under the former government of Siad Barre?? Considering Gresham's Law doesn't apply as there are no legal tender laws, why hasn't the Somalian free market accepted Gold or Silver to replace Fiat Paper as Ron Paul has suggested, how Friedrich Hayek proposed, and how logic seems to agree with it?? I realize some private agencies have started creating currency in Somalia, but the ones I have come across are all fiat...
Where's the gold? Where's the silver? This is about as free market as you can get...why are they accepting worthless paper to purchase real goods??