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Thread: For a Racial Capitalism

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    I have to admit I haven't yet read the entire discussion, but various obvious questions present themselves to me.

    First, how will you have a currency backed up by gold if there is no State?

    Second, if the currency is dependent on gold - how is the value of the gold determined?

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    Quote Originally Posted by Edric
    Please explain some things in your posts:

    By Aloysha:

    "Currency needs to be measured against something so savings can be protected from inflation - and that is the purpose of Gold."
    I am interested in the part in bold, please explain.
    In the mid 1920's the German Government decided an easy way to pay off the reparations to the Allies from the Versailles treaty would be to simply print money, and lots of it. The downside of this was that billions of marks were released onto the streets. Say a man had saved (for example) 5000 marks so he could buy himself a car. That money he saved (5000 marks) was worthless now, because his money was tied to nothing the Government couldn't mess with (like Gold). The Allies got pissed off with the German Government and decided they wanted the reparations in objections, not bits of paper - and so the Allies took the Germans' gold - which is the only sensible thing to do, if you were on the side of the Allies. Now if the Mark had've been tied to gold, then the man who had 5000 marks would have had an equivalent amount of gold in his bank. If the Goverment then printed billions of marks, the man still owned the same amount of gold in the bank - he could just withdraw it, and his savings are intact, in his own hands.

    I am interested in the parts in bold and italic, if possibly explain them separately. Thanks.[/QUOTE]

    I'll split the following into two parts to make it easier.

    By Aloysha:

    "So we have Hitler rising to power after massive unemployment as a result of hyper-expansion of Western economics as a result of their currencies no longer being based on the gold standard.
    The Federal Reserve was established in 1913. Its purpose was to 'free' banks by letting them loan out money on unlimited lines of credit which would be backed by US taxes. Businesses borrowed this money which was supposedly based on the gold standard (effectively it wasn't) invested it, and hired lots of workers - production shot through the roof and the American economy was doing well, but banks began to get scared they'd never get paid back because they were constantly loaning out money they didn't have. So they called the loans back, and the economy crashed - businessmen fired workers and companies were shut down and millions were unemployed. Had the Federal Reserve never been established and the gold standard never left, this would not have occured as banks could only loan out money based on the gold they had - which was a finite amount. The economy would have grown a lot slower but it never would've crashed on that scale.

    Sure - Britain did return to the gold standard, but that does not ignore the fact American investors were using money which was based on unlimited (not gold-limited) credit."
    Americans were investing with fake money into Britain and continental Europe. The British economy went down with the American economy.
    All men dream, but not equally. Those who dream at night, in the dusky recesses of their minds, wake in the day to find that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams, with open eyes, to make it possible.

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    Quote Originally Posted by Siegfried Augustus
    I have to admit I haven't yet read the entire discussion, but various obvious questions present themselves to me.
    Sure thing - the questions you've asked haven't been covered, so it's probably worth asking them.

    First, how will you have a currency backed up by gold if there is no State?
    Banks will issue their own currency, backed by their own supplies of gold. Gold will probably be the base currency (the base currency could be tobacco or cows or the present US dollar note - but I doubt it, because these products can be manufactured quickly and easily, ruining the entire economy. People don't have to be smart but banks do) because it is rustless, limited in quantity (VERY important), durable, and universally accepted.

    Second, if the currency is dependent on gold - how is the value of the gold determined?
    The value of gold is determined the same way as the value of everything else - subjective value, supply, and demand. The reason gold serves best as the base currency is because it is universally accepted and limited in quantity. If gold was available in unlimited quantities, then the laws of supply and demand would not apply to it and it would be worthless - but it isn't, which is what makes it viable as a base currency, as well as the fact it is rustless and universally accepted. People might not care a great deal for gold but banks do, and banks will base the currency you use off it
    All men dream, but not equally. Those who dream at night, in the dusky recesses of their minds, wake in the day to find that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams, with open eyes, to make it possible.

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    Aloysha; "The value of gold is determined the same way as the value of everything else - subjective value, supply, and demand. The reason gold serves best as the base currency is because it is universally accepted and limited in quantity. If gold was available in unlimited quantities, then the laws of supply and demand would not apply to it and it would be worthless - but it isn't, which is what makes it viable as a base currency, as well as the fact it is rustless and universally accepted. People might not care a great deal for gold but banks do, and banks will base the currency you use off it."

    Moody Lawless; That doesn't answer the question of how the actual STANDARD VALUE as such would be determined. I would have thought this to be essential to your argument.
    Why are there beings at all, & why not rather nothing?
    [Leibniz/Heidegger]

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    Aloysha; "Ireland before Christianity was Capitalist...
    I do not wish for one a tyranny of a small elite of whites over all whites...
    And whites would be enslaved by their own kind...
    I do not introduce petty racism into matters of science an knowledge..."

    Moody Lawless; The Irish were ruled by, and owed tribute to, a warrior elite headed by kings, as well as a priestly caste [Druids].
    This is the standard Aryan tripart hierarchy of warrior, priests and producers.
    They also traded Irish slaves with the Vikings.
    Is this the Capitalist society you are talking about?
    Why are there beings at all, & why not rather nothing?
    [Leibniz/Heidegger]

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    Aloysha; "Capitalism = Laissez Faire Capitalism".

    Moody Lawless; "The slogan 'Laissez faire, laissez passer' [Colbert, finance minister of Louis XIV] was taken by the physiocrats [i.e., French 18th century economists, particuarly Quesney], who believed that the state's role was simply that of protecting property rights and the natural order ...
    The theory of 'laissez faire' is part of a justification that is still offered for the free market, although few now think that it indicates a feasible policy ...
    Hayek ... has argued that 'laissez faire' requires regulation if it is not to degenerate into a monopoly, and is therefore an artificial and not a natural condition".
    [Scruton, ib.,]


    Aloysha; " Schopenhauer ... defined freedom as the absence of force".

    Moody Lawless; Let's get this clear; Schopenhauer said that 'freedom' was negative and very limited. To him, the natural condition was bondage; 'freedom' was only the momentary eleviation of this natural and predominant human condition of UNFREEDOM.
    This is essential to understanding Schopenhauer's position; for him, bondage, suffering, pain etc., were all POSITIVE forces. 'Freedom', and 'pleasure' were mere and momentary negations of these underlying positive conditions.
    Why are there beings at all, & why not rather nothing?
    [Leibniz/Heidegger]

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    Quote Originally Posted by Moody Lawless
    Aloysha; "The value of gold is determined the same way as the value of everything else - subjective value, supply, and demand. The reason gold serves best as the base currency is because it is universally accepted and limited in quantity. If gold was available in unlimited quantities, then the laws of supply and demand would not apply to it and it would be worthless - but it isn't, which is what makes it viable as a base currency, as well as the fact it is rustless and universally accepted. People might not care a great deal for gold but banks do, and banks will base the currency you use off it."

    Moody Lawless; That doesn't answer the question of how the actual STANDARD VALUE as such would be determined. I would have thought this to be essential to your argument.
    I answered the question. It's determined by people's subjective desires.

    Moody Lawless; "The slogan 'Laissez faire, laissez passer' [Colbert, finance minister of Louis XIV] was taken by the physiocrats [i.e., French 18th century economists, particuarly Quesney], who believed that the state's role was simply that of protecting property rights and the natural order ...
    The theory of 'laissez faire' is part of a justification that is still offered for the free market, although few now think that it indicates a feasible policy ...
    Hayek ... has argued that 'laissez faire' requires regulation if it is not to degenerate into a monopoly, and is therefore an artificial and not a natural condition".
    [Scruton, ib.,]
    Hayek was wrong. Capitalism ('laissez faire, laissez passer') logically leads to Anarcho-Capitalism, though most people who claim to follow Capitalism have fallen short of this and advocate a nightwatchman state.

    Let's get this clear; Schopenhauer said that 'freedom' was negative and very limited. To him, the natural condition was bondage;
    i.e. chaotic society of brute force.

    'freedom' was only the momentary eleviation of this natural and predominant human condition of UNFREEDOM.
    And?

    This is essential to understanding Schopenhauer's position; for him, bondage, suffering, pain etc., were all POSITIVE forces.
    i.e. physically active forces.

    'Freedom', and 'pleasure' were mere and momentary negations of these underlying positive conditions.
    That's where he got it wrong - his definition of pleasure.
    All men dream, but not equally. Those who dream at night, in the dusky recesses of their minds, wake in the day to find that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams, with open eyes, to make it possible.

  8. #48
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    Aloysha; "I answered the question [of the Gold Standard]. It's determined by people's subjective desires".

    Moody Lawless; Completely inadequate; where is the 'standard' in that?
    This is degenerating into farce, I'm sorry.

    Aloysha; "Hayek was wrong....
    ... Schopenhauer got it wrong ..."

    Moody; You CANNOT be serious!
    Why are there beings at all, & why not rather nothing?
    [Leibniz/Heidegger]

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    Quote Originally Posted by Moody Lawless
    Aloysha; "I answered the question [of the Gold Standard]. It's determined by people's subjective desires".

    Moody Lawless; Completely inadequate; where is the 'standard' in that?
    This is degenerating into farce, I'm sorry.
    Be sorry all you want. The value of gold is dependent on the people's need for a stable currency and gold's adequacy for that purpose. As I have said before, the standard against which currency is measured could be cows or cigarettes or anything. Silver is just as good as gold.

    Aloysha; "Hayek was wrong....
    ... Schopenhauer got it wrong ..."

    Moody; You CANNOT be serious!
    Why not? Though in hindsight I'd withdraw the comment about Schopenhauer, I stand by what I said about Hayek.
    All men dream, but not equally. Those who dream at night, in the dusky recesses of their minds, wake in the day to find that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams, with open eyes, to make it possible.

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    Post Gold Standard

    STANDARD: 4. The SET PROPORTION by weight of gold or silver to alloy metal PRESCRIBED for use in coinage.
    [Dictionary.com, my emphasis]
    Why are there beings at all, & why not rather nothing?
    [Leibniz/Heidegger]

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