March 04, 2009

The Root of All Evil - 'nuff said!

Whenever I'm trying to argue and explain the virtues of using natural money (and not the fake, fiat paper notes we're accustomed to) I pretty much use the same reasoning that Paul Hein used in his article on titled The Root of all Evil.
Yet, his way of explaining it is so perfect that I'll share part of it here:

By contrast, today’s wages lose value – measurable only in a frequently redefined "purchasing power" – with every passing month. A "fixed income" means a constantly decreasing standard of living. So Mom goes to work, although that means giving part of her earnings to Uncle Sam, buying a second car, and putting the children in day care: in the end, not as rewarding as hoped. Maybe Dad gets a second, part-time, job. With all of this work, there should be some reward: maybe a boat, a country club membership, a larger home. Easy to obtain with easy money! It’s not hard to see how money, and getting more of it, could become a virtual obsession. You’re working so hard; why shouldn’t you have something to show for it? Living at the brink of, or beyond, one’s means has become all too common. Well, we’re witnessing what happens when that bubble bursts. But the bubble would never have existed if money was a tangible good, not created with the stroke of the banker’s pen.

Money is indispensable to civilization. Individuals or families living in isolation don’t need money; what would they buy? But put people together in cities, to enjoy the benefits of the division of labor, and they need some sort of common bartering agent. That is the role of money. Without it, civilization is impossible. When money is withdrawn from society slowly, and replaced with fiat, or imaginary money, society sickens. The process is gradual, like the heating of the water in the pot containing the frog, but sooner or later, the situation becomes unbearable. If there are no standards for money, other standards will fade away as well. Money circulates through the body politic; if it goes bad, that body deteriorates.

So look about once again. What you see is the collapse of a society built upon a bubble of deceit and dishonesty, a society which has been trying to borrow itself into prosperity. It’s happened before, many times. A fiat "money" eventually reaches its intrinsic value. Do we learn from experience? In monetary matters, the answer would seem to be "NO!" And civilization crumbles, on a foundation of fiat.

A sound society needs sound money.

Paul hit it right on the nose. Spread the word and reject this corrupt monetary system that is ruining our standard of living!

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