You said interest isn’t needed when a guy is trading pigs for goats. I didn’t say it was a required part of every transaction. I said it’s a useful tool in a transaction. In your example you indicate someone might receive goats now for pigs he pays later. The goat seller may likely want to receive additional pigs later than he would normally if he received the trade today. That’s interest. It doesn’t matter what medium you use.
Like or Dislike: 0 0
I understand it can be earth shattering when your strong, heart felt beliefs are put under the knife. It is a scary feeling to start doubting what you hold sacred.
All I am asking you to do is to address my arguments …. not a strawman (if you don’t know what a strawman is google it).
Gwydion75, put your listening ears on. Can you try and do that for me? It takes practice but when you do something long enough you actually become good at it.
No where did I say that using money was bad. GO ahead, look at all the many comments that I have made. Tell me if you find me saying anything of that sort.
I will pretend that your are not being intellectuallly dishonest with your attacks for the sake of a dialog others may be reading.
Fool, having money backed by Gold and bartering is not the same turd.
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.
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.
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.
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 …)
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.
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.
“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.
Star with the banking system. Understand how interest is apart of it.
Then, we can talk about why interest is unwarranted.
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.
Even if you are right .. that interest is righeous, holy, and dignified. Does that refute any of my criticisms?
Rothschild approved Zeros and Ones from a computer GOOD!
Answer:You have to use your brain..
Sadly today, common sense is considered a form of quackery.
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?
From a particle stand point how does this chick not get it!
Sign up to receive free email updates from the RonPaul.com grassroots with the latest news, videos and liberty action alerts.