tag:blogger.com,1999:blog-2761684730989137546.post3859942041442092673..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: Ronan Manly — Russia’s Central Bank Is Buying up so Much Gold Its Huge Mines Can No Longer Keep Upmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-75210566931699411962019-01-03T19:13:27.690-05:002019-01-03T19:13:27.690-05:00It's ironic that Marx was a gold-bug since nee...It's ironic that Marx was a gold-bug since needlessly expensive fiat meant the fiat supply could not keep up with population growth and thus workers would normally be condemned to ever decreasing wages EXCEPT the banks, with ever increasing government privilege, filled in the fiat gap with bank deposits and along with those, the boom-bust cycle wrt employment.<br /><br />So gold-bug Karl Marx was, in effect, anti-worker and pro-bank.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-10543103085066535062019-01-03T17:46:37.648-05:002019-01-03T17:46:37.648-05:00Someone knows what they are doing? Tom Hickey
By ...<i>Someone knows what they are doing?</i> Tom Hickey<br /><br />By wasting time, energy, and the environment digging up gold to rebury it in gold vaults? And by wasting human morale by worshiping a shiny metal rather than justice and ethics?<br /><br />And when gold's real value shall decline as the world wises up to the real nature of fiat ("Render to Caesar ...") and adopts a sane, just system whereby banks have been de-privileged and citizens may use fiat instead of banks deposits?<br /><br />Instead, the Russian Central Bank should allow all Russians to have inherently risk-free debit/checking accounts of their own* at the CB and abolish all other privileges for banks since these diminish the demand for its fiat in favor of bank deposits.<br /><br />*FOR FREE for individual citizen accounts up to a reasonable account limit.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.com