Posted by: graemebird | March 15, 2009

Cash Is A Waste Of Money

This is a post originally written in February 2007. I’ve brought it to the front because the idiot leftist and crony-lovers Joseph Cambria and Jason Soon have ludicrously claimed that socialist production represents some sort of state of liberty. Whereas they think that free enterprise goods are A STALINIST IMPOSITION.

Free enterprise to them is Stalinist. Jason Soon thinks of manufacturing as Stalinist. Perhaps thats the connection. After all someone would have to manufacture these coins. So in their world free enterprise is Stalinist and communist production of money is ….. well at least it isn’t Stalinist. Would it not have been better if free enterprise were Stalinist in Stalins world. We might have avoided that big global war that Stalin started. We might have avoided the forced starvation in the Ukraine if only free enterprise were what Stalin was about.

I really believe that people are catching on to just how dishonest supporters of the neoclassical/Keynesian consensus really are. Certainty after this straight and blatant leftist reversal people must be beginning to see just how bizzare and dishonest Jason Soon and Joseph Cambria are. Quislings to the cause of liberty.

Now Jason Soon reckons that free enterprise money means no swipe-cards? Idiot huh? Clearly we would have swipe cards, E-Gold, E-Silver and all that sort of thing. Clearly we would have coins and ingots. But would we have cash? Would there be enough of a market for homesick leftist lunatics like Cambria and Soon, who just yearned for their CSIRO-designed, and socialist produced cash-money, under liberty.

Under liberty the answer is I DON’T THINK SO. Because cash is a waste of money. And here is why:

FEBRUARY 2007

Debit cards would be efficient and cheap.

100% backed metallic debit cards would have far less transaction costs then credit cards. We know this already with e-Gold.

The low transaction costs of 100% backed metallic would be particularly evident for international transfers of money.

But check this out from the current TIME MAGAZINE.

TIME MAGAZINE has a short column every week called NUMBERS.

This is what they say:

30……….Years a US dollar coin can circulate compared with 18-22 months for a dollar bill.

$500 million…… Amount the US would save each year if dollar bills were replaced by coins, like the new, golden George Washington ones released Feb 15.

>>>>>>>>>>>>>>>

So do you get it?

Cash costs a lot of money.

There are alleged costs to 100% backing but we don’t usually add up the vast costs to the alternatives.

Actually just handling coins alone would be very convenient with your Mises.org money belt.

There you’d have your coppers, your silvers and maybe a gold coin or two or even a platinum one.

And people would get superfast at swapping change.

And your wallet would be therefore used for what its good at holding and those are your cards including 100% backed debit cards.

You don’t need ID to get a debit card. You just need to show up with an ingot of gold, silver or platinum…. Get yourself some codes… And you’re away.

Totally private. No ID needed.

Libertarian paradise.

Now look at the inefficiency under the current system within your wallet…………. what a freakin hodgepodge. There are your coins, your notes your cards…. All promiscuously bundled together in this poor wallet.

Such inefficiency.

Cash is a waste of money.

Whereas Gold, silver, platinum and copper will never let you down.

With 100% backing these coins will not allow significant inflation or depression, or for a dictatorial takeover to deprive you of savings.

The countries currency will never tank in value though the government be at war with its citizens or though the barbarian declare war against Australia.

And thats when a currency must perform the best.

Whereas an attack on Australia would have everyone selling AUD and our currency would crash…..

… Try attacking Australia if we have 100% backed metallic money…. If anything the value of our currency would RISE TO THE OCCASION….

….Allowing us the time and the resources for our boys to punish the high government officials of the offending nation(s) and come home.

This is a most significant factor when it comes to middle power security.

And the failure of the currency to perform under those conditions could never be made up in 100 years of the alleged theoretical benefits of the most sophisticated macromancy.

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Responses

  1. Right so we would like to see if the relentless leftist reversals and lies by Soon, Cambria, and JohnZ are finished yet.

    I am hesitant to start the new subject of land tax, sado-pigouvianism, and so forth while the intention to lie relentlessly continues.

    Because JohnZ actually managed to mislead people with his last effort. And that was on a matter that most folks are familiar with. On an entirely new subject it will be childs play for the liars to throw up a smokescreeen of confusion.

  2. WHAT IS RUBBISH? ITS A GIVEAWAY THAT YOU ARE ENTIRELY UNABLE TO POINT TO A SINGLE SPECIFIC THING THAT YOU CAN RIGHTLY CONTRADICT.

  3. JASON CONSTANTLY ASSOCIATING FREE ENTERPRISE MONEY AND MANUFACTURING WITH STALIN SPEAKS FOR ITSELF. STALIN COULDN’T MANUFACTURE SQUAT BUT FOR ALL THE AMERICAN PRODUCER GOODS. SO I DON’T KNOW WHAT THAT DEAL IS ALL ABOUT.

    THE PARASITE CAMBRIA IS ALWAYS ASSOCIATING FREE ENTERPRISE MONEY WITH STATISM. SO THESE GUYS ARE JUST LUNATICS WHEN ALL IS SAID AND DONE. CAMBRIA IS ONE OF THE MOST EXPENSIVE WELFARE QUEENS IN AUSTRALIA.

  4. “CAMBRIA IS ONE OF THE MOST EXPENSIVE WELFARE QUEENS IN AUSTRALIA.”

    You are constantly making that charge without a providing a shred of evidence, which proves your intellectual dishonesty.

  5. He couldn’t make money as a share speculator if we had stable private money. Hence his support of fractional fiat which has been utterly constant, even when he was pretending to be a libertarian. He would have been wiped out a while back had all the banks gone broke and all ponzi-shares had been wiped. The two Paulsons, all that crowd…. they would have all gone broke since the people who were expected to pay up on their bets would have gone broke.

    This is why Cambria came out in favour of even more subsidies to the financial sector than usual.

    If he gives you the shits remind him that he’s a welfare queen.

  6. WERE YOU AROUND WHEN HE WAS SUPPORTING FRACTIONAL RESERVE? GOLD PRICE TARGETING? BOTH IDEAS THAT GUARANTEE MONETARY INSTABILITY. WERE YOU AROUND WHEN HE WAS THE FIRST PERSON TO COME OUT IN FAVOUR OF THE BAILOUT?

    I MEAN THERE ARE BAILOUTS AND BAILOUTS, BUT HE WAS SUPPORTING THE TOTAL STEALING BAILOUT THAT THE LUNATIC PAULSON FIRST CAME OUT WITH. HE WAS THE FIRST PERSON LOCALLY THAT I CAN THINK OF THAT CAME OUT FULL BLOWN IN FAVOUR OF THIS WELFARISM. THE EVIDENCE IS OVER AT THOUGHTS ON FREEDOM.

    SO I DON’T KNOW WHERE THIS “NO EVIDENCE” BUSINESS IS COMING FROM.

  7. ITS YOU THAT APPEARS UNWILLING TO COME UP WITH EVIDENCE FELLA.

  8. Despite the worst picture ever, that makes me look like some sort of air grenade has just exploded in my stomach, well there is some things that never change.

    Some lefties start talking about the Kama Sutra. And the whole thing collapses into a discussion about me.

    Its a curse I tell you. Or at least a heavy burden to bear. You would think the picture would have killed it decisively. I’ll have to start eating a whole lot more and release a steady supply of even more horrid photos. Or I will never be rid of this affliction.

    http://www.grods.com/post/5547/


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