tag:blogger.com,1999:blog-6421367977598373300.post5169932628048363466..comments2023-08-22T05:06:48.916-07:00Comments on JR Snyder Jr: Economic, Social and GeopoliticalJR Snyder Jrhttp://www.blogger.com/profile/09825473115986190389noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6421367977598373300.post-65876329511250398112011-03-13T17:22:38.388-07:002011-03-13T17:22:38.388-07:00The idea of fiat money as a reserve currency has a...The idea of fiat money as a reserve currency has always fascinated me ever since Nixon abandoned the gold standard. Even at that age I was thinking "well how can something that doesn't even have partial intrinsic value (like currency being only 60% of gold and silver for example) be a RESERVE currency." I suppose I get the Keynesians argument on this but I still don't buy it because it makes no sense to me in that stubborn logical way my brain wants to work!<br /><br />I think Ron Paul and his polar opposites, those on the far left, could quite possibly be correct. The money will become worthless so all this debt will be repudiated. We'll start from scratch.<br /><br />What a great comparison with the government and "Louie, Louie!" Great commentary as always.JR Snyder Jrhttps://www.blogger.com/profile/09825473115986190389noreply@blogger.comtag:blogger.com,1999:blog-6421367977598373300.post-38861683402160896482011-03-11T23:23:19.560-07:002011-03-11T23:23:19.560-07:00Read this last night and had so many thoughts abou...Read this last night and had so many thoughts about it that I figured I'd better wait and let them boil down a little. They haven't yet, but I'll respond anyway.<br /><br />The fiat money is interesting to me, because it seems like it throws math right out the door. If it's only based on laws and ideas (and I think perception is stronger than law in this case) then, really, what is debt? What is a deficit? Spending an idea is nothing, really. I think people on the progressive side of things understood this way before I caught onto it...though I notice, as I always do, that their leaders do a lot more talking about spreading the wealth than actually doing so on anything close to a personal level. For all the words of "service" that you'll hear tossed about regarding a Kennedy or a Clinton (or your odd Roosevelt or two) I can't recall any of them ever saying, "Wait a minute here...I've got an awful lot of money in MY wallet. I'd better spread it around." I do, on the other hand, remember hearing that Chester Carlson, that evil capitalist founder of Xerox, saying that his life's goal was to die broke by giving his money for good reasons. He didn't quite succeed, but he tried his best. Funny, after you toss aside the words and look at the actions, who really cares.<br /><br />I think the government and its bureaucratic mass is like the classical musician who knows every single key and note and chord, and that the capitalist is the Kingsmen, sitting there happy at having written "Louie, Louie". I think there's resentment involved, and that resentment is acted upon in the guise of social justice or Green-ness or any other way a group of non-achievers can hassle achievers monetarily without being quite so bold as to be caught by enough voters. I think they've been caught now, and I think it's going to become very interesting. I feel very lucky to be alive to witness this. I really do.<br /><br />I know this answered nothing but I had to say something. It's an awesome post, JR.Anonymousnoreply@blogger.com