Is anyone stopping you from using gold and silver as your means of transactions? No.Originally Posted by Bern
Whereas it is true that FRBN, needed for taxes, makes FRBN highly marketable, hence, becomes the money - not because of government making FRBN money, but by the marketability generated by the people using FRBN.
The barrier of entry is not the money.
It is the banking.
The people chose their own money.
The people cannot chose their banking system.
What is a good price for a roll of mercury dimes? Thanks
Bern is oustandingly correct.
The very usage of gold/silver in transaction is taxable as per the IRS through barter laws (I'm not saying it's morally right, I'm saying it's the laws on the book - and they have the powerful guns).
The barrier IS the taxation and legal tender laws. Enact the legal competition of currencies and remove legal tender laws and people/the market would be ABLE to choose the forms of banking they so choose, UNCOERSED.
Wow, you don't even know what an economic barrier to entry (not barrier "of" entry) is. You're making up how you think it ought to be defined in order to fit your specious arguments.
A barrier to entry does not mean that entry is physically impossible. Barriers to entry are nothing more than artificial obstacles that make one option artificially less competitive in the market place than others - in other words, a market manipulation. Sometimes they are outright prohibitions (e.g., drug laws). Regulations can also serve as barriers to entry. Mostly they are whatever artificial barriers are imposed that make it economically unfeasible for something to freely compete in the marketplace.
Tariffs are a classic barrier to entry. If a country places a $1,000 per lb. tariff on foreign butter, that would be a barrier to entry. However, I could make your absolutely obtuse and poop-stupid argument that there is no barrier to entry to butter in such a case, because people can still get that foreign butter. All they have to do is pay $1,004.49 per lb. - and it's theirs! See? No barrier to entry!
Legal tender laws are a barrier to entry, as are capital gains taxes on hard specie. State bank notes were literally taxed out of existence in 1863 - that was a barrier to entry for something that already existed, but the artificial taxation barrier served its purpose and drove all such notes completely out of circulation. The fact that people could still "freely" trade in them, so long as they paid the extortion fee levied by government does not mean that there was no barrier to entry.
You listed a bunch of paper currencies from other countries around the world. That was mind-numblingly stupid, because they all have barriers to both entry and exit for currency both within and without various borders (another barrier you overlook) in one form or another.
I'm pretty sure you knew all this, which makes me also pretty sure that you are not interested in honest debate, but are only trolling.
Last edited by Steven Douglas; 03-16-2012 at 05:02 AM.
20 pages and no Rep + peeps?!? lol
Magic eight ball says..
Ron Paul: He irritates more idiots in fewer words than any American politician ever.
NO MORE LIARS! Ron Paul 2012
Well, of course I do - and your spew here notwithstanding.
There is nothing artificial in the choice of money.A barrier to entry does not mean that entry is physically impossible. Barriers to entry are nothing more than artificial obstacles that make one option artificially less competitive in the market place than others
The people chose their money, not government.
No such tax exists today to so to interfere with your choice. Your argument here is specious!The fact that people could still "freely" trade in them, so long as they paid the extortion fee levied by government does not mean that there was no barrier to entry.
Another specious argument.You listed a bunch of paper currencies from other countries around the world. That was mind-numblingly stupid, because they all have barriers to both entry and exit for currency both within and without various borders (another barrier you overlook) in one form or another.
They do NOT all have such barriers - some do, called currency controls - but those are a vast minority and nothing worth pinning your argument upon.
The people chose their money - this is another fundamental and riveting point Mises made, for it explains perfectly well why money becomes "not money".
Last edited by Black Flag; 03-16-2012 at 08:29 AM.
Magic eight ball says...
Ron Paul: He irritates more idiots in fewer words than any American politician ever.
NO MORE LIARS! Ron Paul 2012
Black Flag, it's been fun reading your garbage. What do you think of gun bans?
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