Source link: http://archive.mises.org/12546/oh-how-glorious-and-mighty-is-this-piece-of-paper/
Oh How Glorious and Mighty Is This Piece of Paper
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I would like to thank the gov for adding all these features… without them we might think they are actually worthless pieces of paper we are forced to use instead of *real money.
* http://www.lewrockwell.com/north/north761.html
Now it’s completely uncounterfeitable*!!
*except by the people who designed it and own the printing presses
Actually, the counterfeiters (the FED) don’t even print money, they just write off debt, write down credit notes, promissory notes etc. It’s all scriptural money which has been used to bailout the banks. And it’s all happening behind the scenes. Inflation in the USA is not like weimar or zimbabwe, it’s even worse than that, it’s digits in computers.
Why is Ben Franklin on the new Euro?
I would like to see a video done with some fancy camera work on the Mises Silver Coin which could then proceed to show its amazing anti-counterfeiting measures as seen on the periodic table of elements.
Awesome, me too.
Just when I needed a good laugh, I find this. Pricless.
Meet the new $100 bill. Prettier than your old sawbacks, and with just as much purchasing power.
“Now it’s completely uncounterfeitable*!!”
I agree with your point, but have any of you also wondered why the largest note in our currency is the LAST note to receive the new security features?
I’m not saying it’s some sort of “conspiracy,” I just find it odd…
Ben Bernanke: 3D? Lol.
Oooh. Still just a piece of paper. They can, and will, still print however many they want. Still backed by the credit of an organization that is over $12,873,000,000,000 in debt. That’s 11,121,382,289 troy ounces of gold. I’d have been more precise, but the numbers of mere millions on the debt clock were climbing so fast I couldn’t keep up.
I wonder if there is that much troy ounces of gold on earth ?
That bill is uglier than hell.
They definitely should have replaced Franklin with Woodrow Wilson.
Seattle:
I’m like most people–very much an admirer of Franklin. I’d like to believe (and do) that, were he alive today, he’d quickly adopt the Austrian point of view in Economics.
But, as far as things went in his day, he was as ardent an inflationist as any. Not only that, but he
also profited handsomely from the actual printing (for which he was a principal contractor). But I don’t accuse him of favoring “funny money” because profitable to him. After all, we’re talking of a man who eschewed protection for any of his inventions by patent–simply because he wanted them to benefit as many people as quickly as possible. That’s an awful lot of money right there!
What must be remembered of Franklin (and, likewise, renders all discussion of the attitudes of the Founders, whether Hamilton, Jefferson, etc.) more or less useless (except as interesting history) is that these folks had not our simple advantage: understanding the subjective nature of value. For the same reason, the Constitution so widely revered (and for different reasons) has to be seen, at least in part, as many have claimed it to be–just a “scrap of paper” (and one in serious need of revision merely to bring it in line with present knowledge of Economics).
Ricardo himself lauded paper money, seeing in it a “path through the air” (something for nothing).
The plain fact is that there’s whatsoever wrong with paper–the problem’s with men (and with the
governments they create).
Half of US cash money is outside the country and half of that is under the table. Better to eliminate all folding cash and go 100% electronic except for sufficient coinage to buy breakfast but not in denominations large enough to use in bribing congress.
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