FPC: Aristotle on Utopia
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I am happy to see that some of the FOFOA regulars out there have found this series, read the critiques and commented, even if they are still hesitant
[See the full post at: FPC: Aristotle on Utopia]So what he describes may work. Lets leave that aside for the moment.
I’m focused on implementation. How on earth do we get a large percentage of the nations in the world to essentially outlaw gold derivatives, what with all that money to be made in derivatives and gold lending. We can’t even force the banksters to properly reserve for and trade derivatives on exchanges, for heaven’s sake.
What’s the FOFOA roadmap of getting this thing legally implemented? Its natural enemy would seem to be the banksters, who make their very living by making money through loans and originating derivatives…
davefairtex post=3295 wrote: What’s the FOFOA roadmap of getting this thing legally implemented? Its natural enemy would seem to be the banksters, who make their very living by making money through loans and originating derivatives…
That’s exactly the point.
Their views on the market system and the supranational bankers/corporations range from very benign to very favorable. They believe Freegold will naturally evolve through market mechanisms that force the hands of the politicians/bureaucrats who will change the rules. They believe it will benefit everyone – the politicians need a way to restart economic growth (keep the banking system alive), the bankers need a way to stay solvent, the “super-producers” need a way to offload all of the junk they produce, the savers need a way to protect their excess wealth from government mismanagement, the consumers/debtors need to get out from under their debts and start consuming again. Everyone wants to live in peace and harmony forever. Sure, inequities and injustices will remain, but that is just how nature works…
That’s THEIR view.
Absolutely beautiful. But unless the economy keeps growing ad infinitum (or ad nauseum), absolutely irrelevant.
I am gathering that THIS Aristotle is not the Aristotle of Antiquity, so if i messed that one up, ignore everythinng else I write here. I’m NOT going to go and review the rest of this at the moment on FOFOA’s Blog, I got plenty on my plate already and short of an all out WAR here where Ashvin gives me the BRAZOS call, I don’t see a need to go over there at the moment. Overall, Ashvin is plenty capable of standing down a lot of opposition on his own.
I will just contribute here in this tread some thoughts on AXIOMATIC PRINCIPLES put forth by Aristotle in the quote Ashvin posted.
Aristotle wrote: ]At first cut, people fall into one of two categories: 1) those who recognize the value of an honest monetary system built upon Gold, and 2) those who have not yet given any serious thought to the matter.
In the case of #1, there is an ASSUMPTION made here that an “honest monetary system” can be created with Gold. What is the basis for such an assumption? Far as I know, no such “honest” monetary system has ever existed in all of recorded history. Gold values get manipulated all the time through arbitrage against Silver and other commodities as well as control over Production and distribution. I do not see where anyone can establish that Gold based monetary systems are any more “honest” than any other ones are, from Cowrie Shells to Fiat.
Far as #2 goes, WTF? Is Aristotle suggesting that *I* haven’t given any “serious” thought to this matter, or that Ashvin has not or NUMEROUS other people who question the absolute value of Gold? We are all Chopped Liver here? What? Talk about HUBRIS! “Hey, it you haven;t come to the same conclusion me and my Friends of Friends of Another Firend of Another have come to , CLEARLY you have not given “serious” thought to the matter.” Give me a FB and stick that one where the Sun Don’t Shine, it is INSULTING beyond belief here.
Anyhow, the BELIEF you can create an “honest” monetary system out of Gold is about as Plausible as creating “equitable” Capitalism or “efficient” Communism or “Military Intelligence; for that matter. They are ALL oxymorons. None of them will ever exist, none have ever existed either. The historical record is just LOADED up with monetary collapses which occur JUST as often with PM currency as Fiat, in fact MORE often since Fiat is a relatively recent invention. “Honest Money” is a FICTION. Money itself is dishonest, always.
RE
How on earth do we get a large percentage of the nations in the world to essentially outlaw gold derivatives, what with all that money to be made in derivatives and gold lending
Why would you think this needs to happen? The whole “must be” stuff gets confusing, but he isn’t talking about political change or top down change.
Freegold is about the collapse of confidence in paper gold. De facto, not de jure.
This will result in a clear break from the remaining vestiges gold standard aka trying to tie gold into a fixed contractual parity with a state’s money – the state won’t be able to dictate a fixed price parity.
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