(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?