Re: Inflation and Deflation

From: Bill Ryan (william_b_ryan_at_hotmail.com)
Date: 06/24/04 

Date: 24 Jun 2004 10:52:57 -0700

...there is a steady demand for money, to pay the
government and to escape the sanctions the government
puts on someone who is not paying its taxes. These
sanctions include breaking into your home and
confiscating all goods there, and throwing you on the
street.
----------
Which are the sanctions available to any creditor.
-->

Think of a dollar as a "1 credit point for staying
out of jail" card.
----------
This is a leap of logic. Failure to pay taxes in the
United States is not a criminal offense. And
debtors' prisons were abolished a long time ago.
-->

That is my theory anyway, nobody yet has been able to
reason me out of it.
----------
Well, it is Knapp's "state theory of money" adopted
by the Nazis in the 1930s, and by Warren Mosler and
his newsgroupie mouthpiece William Hummel today. The
problem is it is contrary to fact in the modern
context outside of Nazi Germany and its ilk, like
Zimbabwe under Mugabe. The "state theory" is through
and through a pack of lies. The fact is money
derives it value through acceptability in payment for
things and debt. Government accepts it for taxes,
which gives it value. General Motors accepts it for
cars, which gives it value. It is not issued by
governments in the modern system but banks through
the lending process - which gives it fungibility in
the financial system dominated by banks, not
government.
-

human@planet.earth (oops) wrote in message news:<40d706e7$0$566$e4fe514c@news.xs4all.nl>...
> demokratix@yahoo.com (democratix) wrote:
> >Evening, There is a lot of trolling on this topic
[snipped]

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