Comes an interesting comment on this post:
But of course the problem is not the gold, it is the hegemon. It necessarily has no check upon itself. Of course it will debase gold, and to get around people proofing gold, it replaces gold with malcredit, and can debase far more far faster.
In debasing currency they just add tin or copper to gold and slowly there is inflation, and real gold is driven out by the debased gold. So it is with credit: solid, asset-backed non-usury credit (benecredit) is crowded out by ephemeral unbacked asset-less usury-laden credit (malcredit).
Keep your definition straight and you can see the moving parts, and figure out the game.
Feel free to forward this by email to three of your friends.
Gold is money however one of the reasons that the Roman empire fell apart is that the gold and silver was being diluted until the precious metals were worth less and less. What kind of controls are there to use gold as money?Here is the control against debasing money... https://www.thefisch.com/
But of course the problem is not the gold, it is the hegemon. It necessarily has no check upon itself. Of course it will debase gold, and to get around people proofing gold, it replaces gold with malcredit, and can debase far more far faster.
In debasing currency they just add tin or copper to gold and slowly there is inflation, and real gold is driven out by the debased gold. So it is with credit: solid, asset-backed non-usury credit (benecredit) is crowded out by ephemeral unbacked asset-less usury-laden credit (malcredit).
Keep your definition straight and you can see the moving parts, and figure out the game.
Feel free to forward this by email to three of your friends.
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