posted on Nov, 5 2010 @ 07:51 AM
reply to post by mnemeth1
Bill Still is a socialist who favors fiat money printed by government.
There is nothing socialist with government printing of money. Only directly SETTING the price of money (interest rates) is socialist. There is a big
difference, altrough many people fail to see it.
Setting or fixing the price of any commodity (for example claiming that consumer price of bread should be x, if real price is different) is socialist.
Increasing amount of a commodity on the market (for example baking some (not unlimited) amount of bread, and thus influencing (lowering) its price on
the market, but NOT directly setting the price or target price as fixed) is normal capitalism. Everyone who produces something does the same, and
money is a commodity like any other.
Central banks do not create rational, predictable and fixed amounts of new money (thus only causing moderate inflation, which is good because it
promotes investment, and no deflation) and pour it into the market with no price (interest) attached, but they directly and socialistically set the
target price, and produce unlimited amounts of debt-money, until the target price is reached, and what is worse, LOAN the money into circulation, even
with interest, thus causing cycles (deflation and crisis when they stop the presses).
edit on 5/11/10 by Maslo because: (no reason
edit on 5/11/10 by Maslo because: (no reason given)