By RonPaul.com on August 24, 2012
Posted in Monetary Policy, Ron Paul's Interviews | 79 Responses
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Now you’re talking about bartering? I’m sorry. You’ve lost your entire rational audience. Money is a common sense free market approach to the inability for everyone to commonly supply goods and services everyone needs. The economy and society need to value all goods and services in something commonly defined. It isn’t to say that the item has to be given a fixed value, but merely that there be a common comparison and stored value. If you want to go back to the dark ages, move to the Amazon.
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So how does alll of you said refute my criticism of interest in its destructive nature? Unless we have a year of Jubilee (where all debt is absolved), how can we correct the deflationary nature of interest drive currency and prevent the inedibile collapse of it?
When you can answer that, let me know.
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Farmer A could give more pigs to Farmer B then he normally would due to the fact that Farmer B has to wait. Ultimately, Farmer A does not need to borrow money from a third party. There is simply an agreement between to farmers.
That is pure bargaining 101. Now, the issue occurs when you decide to tokenize an economy ..ie use money. That is where interest can be a problem.
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I am trying to establish some common ground with you dude. THe problem is instead of addressing my criticism you keep deflecting or referring me to Austrian experts.
And I disagree, interest is not needed in a transaction between two people. If farmer A wants to trade his pigs for framer B’s goats, but farmer A doesn’t have his pigs yet, he simply will write a contract stating he will give pigs to Farmer B at a future date. Now, due to the time factor that you speak of, (con …)
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I already did make such a response. Interest is potential tool for two entities, whether they are individuals or organizations, to enter into an agreement involving property and time. It is something I use regularly when I borrow and lend money in my own private transactions and I should be allowed to.
The corruption of the state and banking cartel have nothing to do with what interest is as a tool of trade. Getting rid of interest solves as many real economic problems as a minimum wage.
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You guys really think that “the banking system” is the end all be all of the definition of interest? Do you understand how to think of principle and definition instead of what those in power would have you believe/accept? Interest is a tool of the banking system, but it’s also a tool of any two parties wishing to engage in a transaction involving time.
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“When people cry ‘get rid of interest’, they’re being idiots”.
O.K. So explain to me Einstein, why my criticisms of interest are not valid.
If you can do that, then maybye your AD HOMINEM will stick. If not, then shut your mouth and start listening.
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Gwydion75,
Star with the banking system. Understand how interest is apart of it.
Then, we can talk about why interest is unwarranted.
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Aye Mola,
Thanks for the heads up. The thing is, as soon as I heard of MPE I actually took the time to understand what it was. These guys shut down their minds before they have a chance.
What annoys me is that if their position is so solidified, these should easily pick apart MPE. Instead, they don’t even take the time to refute our assertions.
Oh well, maybye someone is listening.
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Actually,
Even if you are right .. that interest is righeous, holy, and dignified. Does that refute any of my criticisms?
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Gold BAD!
Rothschild approved Zeros and Ones from a computer GOOD!
»crosslinked«
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Answer:You have to use your brain..
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Sadly today, common sense is considered a form of quackery.
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Why should I borrow money from you if I create it issuing promissory obligations to real creditors that give up their property in exchange for an entitlement to take from the overal pool of wealth equal measures of what they have contributed to it, and pay for what I consume as I consume of it retiring from circulation just principal, thus eradicating both inflation and deflation? Your idea without qualification keeps the obfuscation of our currency in place. Why sould do that?
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From a particle stand point how does this chick not get it!
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Im stating what interest is. You’re trying to evade with what the banks and legal cartels define as “money creation”. I don’t think you’re actually responding to me, but attacking some concept that I wasn’t even referring to. What I’m talking about is honest. If I loan you $5, I’ll want back $6 at the end of a year or two. This is interest. What you’re talking about is a giant system that’s been legally protected by our corrupt govt. When people cry “get rid of interest”, they’re being idiots.
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Yeah, cool, keep your ad hominem and evade the fact that we don’t borrow money from banks but create it through our signature on promissory obligations and that banks launder principal into their unwarranted possession. Nice, evade the fact that we shouldn’t be borrowing any money at all because you don’t understand it and the truth is outside your box. Great champ, stay away from Mathematically Perfected Economy, because we don’t need parrots that don’t want to understand about money creation.
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Oh, I see. You think Fractional Reserve Banking, legalized banking cartelization, croneyism and federal monetary monopoly is the same thing as two people or entities agreeing on an interest rate when they lend money. Grow up.
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This woman and (most people for that matter) can not get her mind around the thought of the gold standard.
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Keep on parroting it while the banks steal principal on conception through your signature on a promissory note. Pay for the privilege of being robbed of your right to issue your own unexploited promissory obligations to real creditors that give up property for tokens of value. Yeah, brilliant, babble purported economics of the likes of Mises-Rockefeller and Hayek aka “banking is extremely profitable”. Spread the lies while everybody else is deprived of their potential prosperity. Leeches love it
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I’m not normally mean with comments, but are you really that stupid?
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So how much money do you get for a comment like this? I could use some extra money..but on the other hand I would probably have to drink away the memory of writing such nonsense. Mitt “honest” f*ckingflipflop..?, get a real grip(on your d*ck, instead of the keyboard)
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LMAO, are you really that stupid, or was this just a lame attempt at sarcasm?!
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Interest is the value you place on your money while you’re not using it, or the value you place on someone’s money while you use it, because they aren’t. If you start talking about getting rid of interest it will just go to the black market. If I’m loaning you $5 for a year, I want $6 back at the end. You’re going to have to suck it up, because it’s not your money to borrow, it’s mine to lend. Absolving debt is INSANE. Even talking about it suggests we should dive into debt ASAP. Moral Hazard.
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These people can’t understand that interest is unwarranted since banks have never given up property commensurable to the debts they falsify to themselves. They just want to parrot purported economists that defend the banks blindly. You are close to understand the issues mate, so keep on studying MPE. One day these guys will understand that we are the only creators of money the true creditors. But it depend on us to lead by example. They are still submissive to liars, but you can’t be anymore.
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Ron Paul supporters should prepare to start a write in campaign.
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You’re wrong. Interest is the lawful, moral, and just recompense for a service rendered. I recommend your read Bastiat. Try googling for “bastiat capital and interest.”
If I give you the fruit of my labor for you to employ for your profit, and in the giving I am denied that same fruit, why shouldn’t I receive a compensation?
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your an idiot
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Ron Paul is so knowledgeable & intelligent!
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I don’t disagree that interest is a problem, but I view it more as one of many evils in our current financial paradigm. Absolving debt would be hugely beneficial for humanity. I don’t think that’s crazy at all.
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^Troll
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Thanks for that! I haven’t laughed so hard for days
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The Gold Standard is stupid. Ron Paul is a sorry ass Traitor and a Coward. We will never support anything Ron Paul says or thinks. We hate the idiot Ron Paul. Ron Paul supports Terrorism against the USA. Mitt Romney is a true American Hero. Mitt is very wealthy and a Mormon so he has earned your allegiance and obedience. Stop being a damn PaulTard. Vote for Honest Mitt Romney 2012.
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Ron Paul keep fighting and don’t back up an inch!
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It is not crazy if your goal is to destruct the country. Unfortunately, that is their goal.
They are not crazy, they are evil.
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I disagree… I think the goal of the printing is to maintain power as they buy votes with entitlements without the coresponding increase in taxes. The other goal is to keep the wealth from moving from the rich to the other classes by proping up asset classes that are dependant on the value of the currency. This keeps everything expensive for the average Joe, but those who own it keep collecting dollars and never have to suffer thru price corrections based on the low underlying demand.
I would like to believe that Obama is misguided, and doesn’t understand how economics work. I don’t think they want to destroy the economy or America… although that may be the long term result. Socialism usually ends when the people realize that the politicians have more then everyone else (ie a scam) or when the economy gets so bad that there is an uprising. You can also through the unsustainable wars on there and how nations that overextend their military end up in economic ruin, or worse yet, taken out by other nations. Obama needs a history lesson.
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Scott,
Will you please WAKE-UP?
YES, they want to destroy this country, otherwise, the NWO will never see the light of the day. How can you be that naive? Gee… it isn’t that hard to understand. Besides all the papers that the Globalists wrote , says it in plain sight. Maybe you should follow Alex Jones for a while… or you will never wake-up to reality.
I am so discouraged to see how many Americans have no clue of what is really going on out there. The whole world knows except America. No wonder you are such in a huge mess.
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