That’s a nice story but when we look at the historical record, it’s just flat out false.
In point of fact:
- Debt predates money.
- Money predates barter.
2/
Let’s talk about money and the State (Sovereign).
Since everyone constantly gets this wrong.
1/
That’s a nice story but when we look at the historical record, it’s just flat out false.
In point of fact:
- Debt predates money.
- Money predates barter.
2/
King: “If you don’t give me 3 goats during harvest season, my soldiers will come burn your fucking house down.”
And in this way, the King originated a debt.
By fiat.
3/
King: “Same deal with the soldiers and the burning and the profanity, but now it’s 50 pieces of silver instead of goats.”
Presto! Money!
4/
In lieu of just the sovereign playing debt, these tokens are ‘debt settlement bearer assets’ which allow…well... the economy
5/
All money is fiat.
It’s fiat because we all agree, by fiat, that it will be sufficient unto the settlement of debt. Because we want to have an economy.
6/
Hard money advocates (of all varieties) seem to believe that a supply-constrained token (gold/BTC) is “good” because it’s more “natural” — if you watch closely, you can see these recurrent themes pop up in their language:
7/
But anyhow, tokens are just tokens - they’re for debt settlement.
8/
https://t.co/SxUWU0fCLN
Kings would simply originate debts by decree (‘you owe me goats/silver!’) and this was just sort of the way things worked.
Until representative democracy (and other representative approaches)!
9/
That ‘power domain’ doesn’t tend to remain empty for long (much to the chagrin of anarchists), so the Founding Fathers filled it.
With us.
10/
It also means that we already control the money.
11/
Well - remember that all money is is a debt settlement token.
Now consider that we, as a society, have a boatload of debt, both public and private.
12/
13/
Inflation targeting is, from one standpoint, simply a “perpetual light jubilee” that makes debt loads easier for everyone to carry.
14/
This is a historically superior type of Sovereign (we have some say, which is rare, historically speaking).
Some amount of the tithe this Sovereign exacts goes toward the common good (a high amount, historically speaking).
15/
More from Travis Kimmel
More from Society
Patriotism is an interesting concept in that it’s excepted to mean something positive to all of us and certainly seen as a morally marketable trait that can fit into any definition you want for it.+
Tolstoy, found it both stupid and immoral. It is stupid because every patriot holds his own country to be the best, which obviously negates all other countries.+
It is immoral because it enjoins us to promote our country’s interests at the expense of all other countries, employing any means, including war. It is thus at odds with the most basic rule of morality, which tells us not to do to others what we would not want them to do to us+
My sincere belief is that patriotism of a personal nature, which does not impede on personal and physical liberties of any other, is not only welcome but perhaps somewhat needed.
But isn’t adherence to a more humane code of life much better than nationalistic patriotism?+
Göring said, “people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism and exposing the country to danger. It works the same in any country.”+
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— AAP (@AamAadmiParty) March 12, 2021
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Tolstoy, found it both stupid and immoral. It is stupid because every patriot holds his own country to be the best, which obviously negates all other countries.+
It is immoral because it enjoins us to promote our country’s interests at the expense of all other countries, employing any means, including war. It is thus at odds with the most basic rule of morality, which tells us not to do to others what we would not want them to do to us+
My sincere belief is that patriotism of a personal nature, which does not impede on personal and physical liberties of any other, is not only welcome but perhaps somewhat needed.
But isn’t adherence to a more humane code of life much better than nationalistic patriotism?+
Göring said, “people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism and exposing the country to danger. It works the same in any country.”+
