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  1. konacoco: logicallypositive: appropinquabamus: From the smithsonian, a $100,000 bill The reason they outlawed these things is because after narcotics prohibition & the war on drugs took effect, drug dealers would conduct large transactions using these because they were lightweight and represented a lot of money. $100 bills became the de-facto currency as a result. And also because this represents $100,000 in gold and the US government has zero interest in tying their currency to a physical commodity. HOLY CRAP. It just hit me - and that fact either makes me really smart or really stupid - but I found another reason we need sound money (in addition to all the normal reasons): If the government has to tie our money to a physical commodity (gold, corn, rice, gypsy tears, whatever), then they have to impose limits on their own growth, or they’ll implode and go bankrupt and collapse.It’s like this: If an illegal war costs 5 apples, and you only have 3 apples in total available currency value, out of which you run the government and all other functions of the nation, then you can’t very well go off and fight your dirty war. It’s physically impossible.However, if you can just snap your fingers (or a printing press) and make paper apples with no real value, but trick / coerce people into accepting them, then you can do whatever you want… until people try getting their value from you, at which point the paper apples become so worthless you’re better off using them as toilet paper.So the government doesn’t want to use physical value-backed money, because they want all the power they can grab… and a government paid for by physical value-backed money is self-limiting.

    konacoco:

    logicallypositive:

    appropinquabamus:

    From the smithsonian, a $100,000 bill

    The reason they outlawed these things is because after narcotics prohibition & the war on drugs took effect, drug dealers would conduct large transactions using these because they were lightweight and represented a lot of money. $100 bills became the de-facto currency as a result.

    And also because this represents $100,000 in gold and the US government has zero interest in tying their currency to a physical commodity.

    HOLY CRAP. It just hit me - and that fact either makes me really smart or really stupid - but I found another reason we need sound money (in addition to all the normal reasons):


    If the government has to tie our money to a physical commodity (gold, corn, rice, gypsy tears, whatever), then they have to impose limits on their own growth, or they’ll implode and go bankrupt and collapse.

    It’s like this: If an illegal war costs 5 apples, and you only have 3 apples in total available currency value, out of which you run the government and all other functions of the nation, then you can’t very well go off and fight your dirty war. It’s physically impossible.

    However, if you can just snap your fingers (or a printing press) and make paper apples with no real value, but trick / coerce people into accepting them, then you can do whatever you want… until people try getting their value from you, at which point the paper apples become so worthless you’re better off using them as toilet paper.

    So the government doesn’t want to use physical value-backed money, because they want all the power they can grab… and a government paid for by physical value-backed money is self-limiting.

    23 February, 2012
    Sourced from appropinquabamus
    Originally from appropinquabamus
    Reblogged from konacoco
    Notes (61)

    2. 61 notes

    1. shatteringstar reblogged this from supahsayunbasturd
    2. supahsayunbasturd reblogged this from mctranscendent
    3. mctranscendent reblogged this from logicallypositive
    4. c-newt reblogged this from jasencomstock and added:
      Brian Williams on
    5. notquitecharlotte reblogged this from fareastlibertarianmovement
    6. fareastlibertarianmovement reblogged this from konacoco
    7. thesemicullen reblogged this from jasencomstock and added:
      Drug-dealing aliens.
    8. roblocke reblogged this from logicallypositive
    9. jakke reblogged this from multiplicitiesoffreedom and added:
      To be fair, what possible reason could anyone have to be using a $100k bill in 1934? Like, that’s $1.7 million in...
    10. traveldown reblogged this from konacoco and added:
      No government has in interest in tying their currency to a commodity. Thats IDIOTIC! That’s not how capitalism works.
    11. thatgirlsanalien reblogged this from konacoco
    12. multiplicitiesoffreedom reblogged this from logicallypositive
    13. logicallypositive reblogged this from appropinquabamus and added:
      The reason they outlawed these things is because after narcotics prohibition &...war on...
    14. appropinquabamus posted this
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