Thursday, December 19, 2013

FAIL! Pirate Party Founder Seriously Misunderstands Currency Operations.

(Commentary posted by Roger Erickson)

He's negligent on gold std history too.



The series of statements from Rick Falkvinge are truly cringe-worthy.

Someone close to him please remind him that nearly every functioning country went off the gold standard circa 1933? And that the 1944 Breton Woods agreement included gold-convertibility of $US ONLY BETWEEN GOVERNMENTS, and did not apply to private citizens?

And maybe remind him that trading unfulfilled financial claims on ANY currency - even gold - is ... [steel your minds for this revelation] ... the definition of currency?

Creating nominal units to dynamically represent any and all real options is what we call liquidity. Liquidity itself is a dynamic asset with more value than any static asset, because an adequate deal today is perennially better than a perfect deal next year. Tempo counts, in the form of policy agility. Without policy agility there's no national maneuver agility, only a shrinking policy space.

Lord have mercy. You'd think a software programmer would understand the supremacy of dynamic value over static value. BMHOTK!

Gotta wonder what Rick Falkvinge thinks of Sweden staying on a sovereign fiat currency system, and intelligently refusing to join the ECU (european currency union) like Greece, Spain, Italy, Portugal & Finland did.

Even pirates employ circular reasoning, even if only selectively? Or maybe he's actually a Rand Lubber who believes in Financial Apartheid? :(

Whatever the case, those who can't or won't take the time to actually think all of the time, not just periodically, inevitably lead themselves off a cliff. It's only a matter of time.

Is there a remedial education service for deluded pirates? Especially one on fiat currency operations?



3 comments:

F. Beard said...

Is there a remedial education service for deluded pirates? Rodger Erickson

Yes, it's called the Bible. Proverbs is a good place to start.

aethelstan said...

I got into a bit of a debate with Falkvinge and some of his accolates a couple of years ago over these issues. Imho he's a lost cause.

F Beard - give it a rest with your proselytizing. You come across as a nut case.

F. Beard said...

Well, that's why I know from experience, I was a nut case and probably still am to some extent.

The man asked a question and I gave an honest answer. Should I have ignored it and left a mistaken impression?

My chief interest is ethical money/credit creation but since I got my ideas from the Bible (mostly from the Old Testament), I'll make no secret of that lest I plagiarize God. Him I fear more that displeasing you though I'd rather not displease anyone unnecessarily.

Peace.