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My plan for money

harrytruman
Posts: 812
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7/26/2016 9:10:40 PM
Posted: 4 months ago
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.
bballcrook21
Posts: 4,468
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7/26/2016 9:16:45 PM
Posted: 4 months ago
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself. -Friedman

Nothing is so permanent as a temporary government program. - Friedman

Society will never be free until the last Democrat is strangled with the entrails of the last Communist.
harrytruman
Posts: 812
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7/26/2016 9:39:41 PM
Posted: 4 months ago
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.
bballcrook21
Posts: 4,468
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7/26/2016 9:40:45 PM
Posted: 4 months ago
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself. -Friedman

Nothing is so permanent as a temporary government program. - Friedman

Society will never be free until the last Democrat is strangled with the entrails of the last Communist.
harrytruman
Posts: 812
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7/26/2016 9:43:18 PM
Posted: 4 months ago
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.
Midnight1131
Posts: 1,643
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7/26/2016 10:06:36 PM
Posted: 4 months ago
At 7/26/2016 9:39:41 PM, harrytruman wrote:
who says international? We should isolate ourselves.

If we trade with no one we'll cripple our economy.
#GaryJohnson2016
#TaxationisTheft
#TheftisTaxation
Midnight1131
Posts: 1,643
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7/26/2016 10:07:46 PM
Posted: 4 months ago
At 7/26/2016 9:43:18 PM, harrytruman wrote:
No, because then we would produce our own crap.

The universal tip of "don't make at home what you can buy elsewhere for cheaper" applies to international trade as well. Shutting out trade and propping up industries that are high cost and inefficient will harm the consumers and general population.
#GaryJohnson2016
#TaxationisTheft
#TheftisTaxation
harrytruman
Posts: 812
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7/26/2016 10:29:21 PM
Posted: 4 months ago
At 7/26/2016 10:07:46 PM, Midnight1131 wrote:
At 7/26/2016 9:43:18 PM, harrytruman wrote:
No, because then we would produce our own crap.

The universal tip of "don't make at home what you can buy elsewhere for cheaper" applies to international trade as well. Shutting out trade and propping up industries that are high cost and inefficient will harm the consumers and general population.

It's only cheaper because we have stupid regulations in the US and those countries pay 1 cent an hour for their labour, less exploitation= higher price, also we are losing jobs because of globalism, it needs to stop.
lannan13
Posts: 23,107
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7/26/2016 11:40:54 PM
Posted: 4 months ago
At 7/26/2016 9:43:18 PM, harrytruman wrote:
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.

Yeah, that's not how that works.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
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harrytruman
Posts: 812
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7/27/2016 12:28:17 AM
Posted: 4 months ago
At 7/26/2016 11:40:54 PM, lannan13 wrote:
At 7/26/2016 9:43:18 PM, harrytruman wrote:
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.

Yeah, that's not how that works.

Why not? That's how it worked in the 40';s.
lannan13
Posts: 23,107
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7/27/2016 12:29:08 AM
Posted: 4 months ago
At 7/27/2016 12:28:17 AM, harrytruman wrote:
At 7/26/2016 11:40:54 PM, lannan13 wrote:
At 7/26/2016 9:43:18 PM, harrytruman wrote:
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.

Yeah, that's not how that works.

Why not? That's how it worked in the 40';s.

Yes, when the world was at war and in complete ruins. Today that's obviously not the case.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~
bballcrook21
Posts: 4,468
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7/27/2016 12:33:48 AM
Posted: 4 months ago
At 7/27/2016 12:28:17 AM, harrytruman wrote:
At 7/26/2016 11:40:54 PM, lannan13 wrote:
At 7/26/2016 9:43:18 PM, harrytruman wrote:
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.

Yeah, that's not how that works.

Why not? That's how it worked in the 40';s.

Lol, no it wasn't. The 40s was when we had large trade deals with European nations. Simply producing stuff at home to sell to the government doesn't mean anything, and all that stuff was expensive either way.
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself. -Friedman

Nothing is so permanent as a temporary government program. - Friedman

Society will never be free until the last Democrat is strangled with the entrails of the last Communist.
lannan13
Posts: 23,107
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7/27/2016 3:36:55 AM
Posted: 4 months ago
At 7/27/2016 12:33:48 AM, bballcrook21 wrote:
At 7/27/2016 12:28:17 AM, harrytruman wrote:
At 7/26/2016 11:40:54 PM, lannan13 wrote:
At 7/26/2016 9:43:18 PM, harrytruman wrote:
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.

Yeah, that's not how that works.

Why not? That's how it worked in the 40';s.

Lol, no it wasn't. The 40s was when we had large trade deals with European nations. Simply producing stuff at home to sell to the government doesn't mean anything, and all that stuff was expensive either way.

Not to mention we had a life of austerity.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~
capob
Posts: 73
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7/27/2016 10:06:29 PM
Posted: 4 months ago
At 7/27/2016 3:36:55 AM, lannan13 wrote:
At 7/27/2016 12:33:48 AM, bballcrook21 wrote:
At 7/27/2016 12:28:17 AM, harrytruman wrote:
At 7/26/2016 11:40:54 PM, lannan13 wrote:
At 7/26/2016 9:43:18 PM, harrytruman wrote:
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.

Yeah, that's not how that works.

Why not? That's how it worked in the 40';s.

Lol, no it wasn't. The 40s was when we had large trade deals with European nations. Simply producing stuff at home to sell to the government doesn't mean anything, and all that stuff was expensive either way.

Not to mention we had a life of austerity.

Truman, it is the notion of opportunity costs and comparative advantage.

It appears this topic has gone off on the insanity of isolationism. You don't need to be isolationist to have private banks - the US did not always have a central bank.

The issue, however, is that banks represent huge sources of power. And, it is the effort of the government to prevent monopolies from infringing upon the rights of citizens (this, btw, is the general philosophy behind government). The problem with private banks, in the past, was the occurrence of cartelish and monopolistic activities such as causing coordinated runs on certain banks to destroy the competition.

At the time, it seemed best to prevent this sort of problem by having a central bank. And, were corruption not a problem with the central bank, the central bank itself is not a terrible idea.

Today, there is the possibility for private banks instead of a central bank. It is made possible by the technologies like bitcoin. And, it can be implemented by having a bitcoin accounting which represents holdings of real gold.

Unfortunately, the consequences of such a system, and the pros and cons between the two, and the additional option of re-implementing a central bank with better anti-corruption tactics, are all topics which require an outstanding level of knowledge and interest, and you'll likely not find anyone here to talk about it.
triangle.128k
Posts: 3,675
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7/28/2016 5:59:56 PM
Posted: 4 months ago
At 7/26/2016 9:43:18 PM, harrytruman wrote:
At 7/26/2016 9:40:45 PM, bballcrook21 wrote:
At 7/26/2016 9:39:41 PM, harrytruman wrote:
At 7/26/2016 9:16:45 PM, bballcrook21 wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Impossible in our current state, and also becomes a big issue internationally.

who says international? We should isolate ourselves.

Lol, and watch our GDP sink to nothing and the world collapse economically.

No, because then we would produce our own crap.

Mercantilism will never work, especially considering how dependent world economies are to each other.

Different countries have different cultures, natural resources, infrastructure, terrain, etc which effects their imports and exports. For example, we don't have enough oil deposits to isolate ourself from middle eastern countries fiscally.

Nations have been trading for centuries (*cough cough, the silk road*) because you can't find everything in one country. Mercantilism is a ridiculous idea.
Diqiucun_Cunmin
Posts: 2,710
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8/2/2016 5:34:46 PM
Posted: 4 months ago
The very definition of money is a generally-accepted medium of exchange.
The thing is, I hate relativism. I hate relativism more than I hate everything else, excepting, maybe, fibreglass powerboats... What it overlooks, to put it briefly and crudely, is the fixed structure of human nature. - Jerry Fodor

Don't be a stat cynic:
http://www.debate.org...

Response to conservative views on deforestation:
http://www.debate.org...

Topics I'd like to debate (not debating ATM): http://tinyurl.com...
NestorTheZizek
Posts: 28
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9/25/2016 2:43:56 PM
Posted: 2 months ago
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

All money is inherently worthless anyway as long as it is based on exchange value
bballcrook21
Posts: 4,468
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10/13/2016 1:52:48 AM
Posted: 1 month ago
At 9/25/2016 2:43:56 PM, NestorTheZizek wrote:
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

All money is inherently worthless anyway as long as it is based on exchange value

"Worth" and "value" are economic terms that are separate from their standard colloquial usage in common vernacular. The value of the Dollar is quite high while it is also not a currency that is backed by anything, meaning the value is based upon a societal acceptance that is deduced from various different factors, such as monetary history of the United States, desire for a stable monetary system, need for a common medium of exchange, etc.
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself. -Friedman

Nothing is so permanent as a temporary government program. - Friedman

Society will never be free until the last Democrat is strangled with the entrails of the last Communist.
Wylted
Posts: 21,167
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10/13/2016 2:03:23 AM
Posted: 1 month ago
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

Democrats like central planning, they won't allow it
Javier-Riefkohl
Posts: 11
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10/13/2016 12:11:02 PM
Posted: 1 month ago
That is actually a great idea, let's give ourselves more reasons to fight each other. But in a serious note, if that would actually happen how do you think there can even be a market when everyone can pay with whatever they want?
JavierRiefkohl
NestorTheZizek
Posts: 28
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10/13/2016 7:18:59 PM
Posted: 1 month ago
At 10/13/2016 12:11:02 PM, Javier-Riefkohl wrote:
That is actually a great idea, let's give ourselves more reasons to fight each other. But in a serious note, if that would actually happen how do you think there can even be a market when everyone can pay with whatever they want?

I hate the free market etc and despise everything capitalist and right-wing just so you know, but my understanding of this issue is that there would be competitive currencies and the best ones would be chosen by the people in different areas
BillSPrestonEsq
Posts: 140
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11/11/2016 4:10:47 AM
Posted: 4 weeks ago
At 7/27/2016 10:06:29 PM, capob wrote:

It appears this topic has gone off on the insanity of isolationism. You don't need to be isolationist to have private banks - the US did not always have a central bank.

The issue, however, is that banks represent huge sources of power. And, it is the effort of the government to prevent monopolies from infringing upon the rights of citizens (this, btw, is the general philosophy behind government). The problem with private banks, in the past, was the occurrence of cartelish and monopolistic activities such as causing coordinated runs on certain banks to destroy the competition.


But what is stopping the government from colluding with banks and making the problem much, much worse? If you create an entity called 'government' that has the power to create law, why wouldn't those banks lobby politicians to create laws in their favor in exchange for money and power?
Actually that has already happened..
Also banks runs wouldn't be a problem or wouldn't happen at all given that banks were actually solvent.

At the time, it seemed best to prevent this sort of problem by having a central bank. And, were corruption not a problem with the central bank, the central bank itself is not a terrible idea.


That is if corruption were not a problem, but you know.. humans..

Today, there is the possibility for private banks instead of a central bank. It is made possible by the technologies like bitcoin. And, it can be implemented by having a bitcoin accounting which represents holdings of real gold.


I think what we are going to see is technology transcend the need or usefulness of government, or central banks and the like and currencies like bitcoin perhaps taking over.

Unfortunately, the consequences of such a system, and the pros and cons between the two, and the additional option of re-implementing a central bank with better anti-corruption tactics, are all topics which require an outstanding level of knowledge and interest, and you'll likely not find anyone here to talk about it.

Can the consequences be any worse? Again I think that government everything will go not by way of revolution but of transcendence. That would be ideal.. re implementing some system would still require some omnipotent authority leading again to the inevitable corruption of that authority. The OP is correct, and I'll tell you why he has to be correct.. Currency chosen by the market MUST work better than one manipulated by a central power. There can be no exception, but the idea of suddenly forcing upon the world this new market would be a complete disaster. It must be allowed to happen naturally is all, and it WILL be better, it WILL be more stable because it will be allowed to correct and perfect itself by the hand of the market (aka millions of people) rather than manipulated by a small group in their own self interest.
Stwop12
Posts: 11
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11/17/2016 3:22:54 AM
Posted: 3 weeks ago
At 7/26/2016 9:10:40 PM, harrytruman wrote:
Here's an idea, rather than making our money fiat, gold backed, silver backed, or debt backed, how about we privatize currency, allowing anyone to issue money, ad none of it legal tender, that way currencies can compete and whatever the public prefers depending on the time is what money predominately will be.

If you want this why not look into cryptocurrency? its the closest thing your going to get to in this day and age.