tag:blogger.com,1999:blog-2761684730989137546.post1075991912849811763..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: 200 Years Ago, We Didn't Have To Explain "Where Money Comes From" To All Citizens. More Knew Then Than Do Now!mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-2761684730989137546.post-65197112801095684312015-03-05T23:34:36.982-05:002015-03-05T23:34:36.982-05:00"When will the communists in North Dakota and..."When will the communists in North Dakota and their state bank be dealt with?"<br /><br />As soon as they look worth looting, ... to Goldmans Sachs et al.<br /><br />Roger Ericksonhttps://www.blogger.com/profile/17515506247888521516noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-33233592272543795412015-03-02T11:23:07.698-05:002015-03-02T11:23:07.698-05:00When will the communists in North Dakota and their...When will the communists in North Dakota and their state bank be dealt with?Peter Panhttps://www.blogger.com/profile/09473311771939167712noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-28862120955082319842015-03-01T12:52:08.485-05:002015-03-01T12:52:08.485-05:00Roger, I was just citing information from the arti...Roger, I was just citing information from the article you linked to.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-20588566150653722572015-03-01T11:33:49.241-05:002015-03-01T11:33:49.241-05:00Thanks Dan.
No one said the original state bank o...Thanks Dan.<br /><br />No one said the original state bank of Vermont did issue fully fiat currency, although several of the prior colonies had done just that.<br /><br />Main point is that the state bank was openly conceived, via public discussion, as an institution to serve the Vermont public, rather than banksters.<br /><br />Do you have any more links about the details of the outset, workings & eventual demise of the Vermont state bank? Lots of details are missing.<br />Roger Ericksonhttps://www.blogger.com/profile/17515506247888521516noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-50502910972283514452015-03-01T09:16:12.210-05:002015-03-01T09:16:12.210-05:00"In 1804, the Vermont legislature recommended..."In 1804, the Vermont legislature recommended that the arguments regarding banking be put before the people, and that a vote on a banking bill be held in 1805. This was done, and the proponents of banking made a good case that banks would solve the many problems that Vermonters faced, including counterfeiting, inefficiency, <b>and the draining of capital by out-of-state (“foreign”) banks.</b>"<br /><br />Send to Varoufakis and Galbraith they both seem oblivious to this still today... at least to my knowledge this has never come up from either of them...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-73051225124511282132015-03-01T07:12:16.128-05:002015-03-01T07:12:16.128-05:00"200 Years Ago, We Didn't Have To Explain..."200 Years Ago, We Didn't Have To Explain "Where Money Comes From" To All Citizens."<br /><br />The Vermont State Bank was set up as a specie reserve bank, with 100% required specie reserves for the first $25 thousand issued, and a requirement after that point to never fall below 33% reserves.<br /><br />It didn't issue fiat or chartal money.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-73506502006206425262015-03-01T01:40:35.846-05:002015-03-01T01:40:35.846-05:00Interesting history, thanks for posting.
Lincoln&...Interesting history, thanks for posting.<br /><br />Lincoln's economic advisor <a href="https://en.wikipedia.org/wiki/Henry_Charles_Carey" rel="nofollow">Henry Charles Carey</a> fully understood modern money theory. <br /><br />Progressives of the late 1800's advocated "greenback" money, and later "free silver" which accomplished the same thing in a roundabout way.<br /><br />Today's progressives are mostly clueless. :-(Dan Lynchhttps://www.blogger.com/profile/11189866002273597534noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-65207631499059146712015-02-28T22:51:27.831-05:002015-02-28T22:51:27.831-05:00This doesn't even come close to what's rea...This doesn't even come close to what's really needed?<br /><br />http://www.kauffman.org/blogs/growthology/2015/02/economics-and-teacher-prep-higher-standards-neededRoger Ericksonhttps://www.blogger.com/profile/17515506247888521516noreply@blogger.com