tag:blogger.com,1999:blog-2761684730989137546.post8538483520889279787..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: We Are Stupidly Rescinding the Fiscal/Monetary Constitution Written Largely by Marriner Ecclesmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-36111445755826128602016-02-16T10:45:58.469-05:002016-02-16T10:45:58.469-05:00sadly, even Marriner Eccles either didn't comp...sadly, even Marriner Eccles either didn't completely understand fiat currency operations, or he at least used very sloppy semantics<br /><br />"The individual cannot increase his income by taxation. The government can." Marriner Eccles, 1938<br />https://fraser.stlouisfed.org/scribd/?item_id=465651&filepath=/docs/historical/eccles/077_03_0002.pdf#scribd-open<br /><br />[In a fiat currency regime,] "Taxes for revenue are obsolete." Beardsley Ruml, 1946<br />http://home.hiwaay.net/~becraft/BeardsleyRuml.pdf<br /><br />For 80 years, we've been so close ... yet so far. Actually, for over 2000 years!<br /><br />The Athenian Greeks certainly understood state money, by 350BC<br />https://en.wikipedia.org/wiki/NomismaRoger Ericksonhttps://www.blogger.com/profile/17515506247888521516noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-16524494629563033222013-07-30T09:27:37.097-04:002013-07-30T09:27:37.097-04:001776 was the Declaration of Independence and the C...1776 was the Declaration of Independence and the Constitution was written in 1787. Someone had to say it.xanhttps://www.blogger.com/profile/09045594213131265682noreply@blogger.com