Sunday, January 10, 2021

Ancient Canaanites Added Arsenic to Copper to Create Counterfeit Currency


Why not think they were using any corrosion resistant metal they could economically produce?  Like we do today... smh Art Degree Historians couldn’t even tell you what column of the Periodic Table silver (Ag) was in... 


Andrew Anderson said...

There's a huge danger that if we refuse to:

1) create ALL fiat ethically
2) to allow all citizen's (at least) to use it
3) to remove all other privileges for private bank deposits that we'll return to the dog's vomit of needlessly expensive fiat and even more austerity and deflation worship.

Ahmed Fares said...


Banks don't create fiat currency, government does.

You don't even need fiat currency to pay your taxes. The government will gladly accept your tax payments in non-fiat money. You know, the kind "created" by banks.

What Is Fiat Money?

Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government, rather than the worth of a commodity backing it as is the case for commodity money. Most modern paper currencies are fiat currencies, including the U.S. dollar, the euro, and other major global currencies.

Did you see any mention of banks there?


Me, neither.

Andrew Anderson said...

Banks don't create fiat currency, government does. Ahmed Fares

Obviously, but government privileges for the banks lowers the DEMAND for fiat in favor of bank deposits.

And lower demand for fiat means less fiat can be created for the general welfare (for a given amount of price inflation).

Ahmed Fares said...


"And lower demand for fiat means less fiat can be created for the general welfare (for a given amount of price inflation)."

That's what taxes are for. They open up space for the government to spend more without giving rise to inflation.

Andrew Anderson said...

Except fiat creation is (or at least should be) for the general welfare while private bank deposit creation is for the private welfare of the banks themselves and for the more so-called "credit worthy" (typically the richer) at the expense, one way or another, of the less so-called "credit worthy" (typically the poorer).

Besides, if taxation is used to curb consumption in order to curb price inflation, then that taxation MUST fall on the non-rich since the rich don't consume enough to matter.

Andrew Anderson said...

So it follows that banks must be 100% private with 100% voluntary depositors so that equal protection under the law is not violated (typically in favor of the richer).