No Government, No Force

The Fiasco of Fiat Money

Mises Daily: Thursday, June 07, 2012 by Thorsten Pollei???

Today’s worldwide paper-, or “fiat-,” money regime is an economically and socially destructive scheme ? with far-reaching and seriously harmful economic and societal consequences, effects that extend beyond what most people would imagine.

Fiat money is inflationary; it benefits a few at the expense of many others; it causes boom-and-bust cycles; it leads to over-indebtedness; it corrupts society’s morals; and it will ultimately end in a depression on a grand scale.

All these insights, however, which have been put forward by the scholars of the Austrian School of economics years ago, hardly play any role among the efforts of mainstream economists, central banks, politicians, or bureaucrats in identifying the root cause of the current financial and economic crisis and, against this backdrop, formulating proper remedies.

This should not come as a surprise, though. For the (intentional or unintentional) purpose of policy makers and their influential “experts” ? who serve as opinion molders ? is to keep the fiat-money regime going, whatever it takes.

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Fiat money has already planted the seeds of economic collapse, not only in America, but around Planet Earth.? It can do no other, so it’s simply a matter of “when”.?

Your Government(s) gave you no choice about this, did they?

Dean Striker.



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1 Comment

  1. I’ve said many, many times that though we supposedly have a representative government, and everyone tells me that “we” are the “government”, we, the people have never been represented and I have been given no choices within the government – hence both statement add up to one big totally accepted LIE.

    Our elected officials have failed us big time, and I for one resent it. I do not believe for one instant that the incompetency of a government in which I have no say is my responsibility, not is the overspending my government does MY responsibility to pay. I don’t believe anyone but the politicians involved owe this disgustingly irresponsible debt. It is theirs, and I think the people should demand they make restitution, starting TODAY. Their salaries, retirement plans, insurance plans, perks of office – all should be withheld from all living federal politicians until such time as our national debt THEY accrued irresponsibly is PAID IN FULL.

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