The AMI’s Dick Distelhorst wrote a lengthy rebuttal in the comment section of the von Mises blog article: The Dangers of Monetary Reform, which we reprint here.
Archive for the ‘History’ Category
The Coinage Clause in the Constitution
…an exhaustive review of the “coinage clause” in Article 1 Section 8 which concludes “the money thus “coined” did not need to be metallic. Paper or any other material that Congress selected would suffice.”
The Other Flow of History
Joe responds to the ModernMystic that society will err in a major way if we even consider that the ratings agencies can determine the cost of government’s efforts to maintain economic stability, when it was the ratings agencies that caused the government’s actions in the first place by the agencies’ failure to properly “rate” the [...]
Coffee with Joe 3/5/10: von Mises Criticisms
A series of videos rebutting the criticisms presented in The Dangers of Monetary Reform at the Libertarian/Austrian von Mises website. See also, the posting Dick Distelhorst’s Rebuttal of Von Mises Criticisms. Part 1: Introduction, in which Pete lists the legitimate topics for discussion: Part 2: Constitutionality: (see also this on the “coinage clause” in Article [...]
Coffee with Joe 11-16-09 Part 2 (of 2): Not Worth a Continental!
Joe discusses the mythology behind the Continental, the debt-free currency that allowed the colonies to fund the revolutionary war independent of the european banks, as well as the hyperinflation of the Weimar currency in the 1920s. He recommends students read Stephen Zarlenga’s The Lost Science of Money for more detail. In Part 1, Joe distinguishes [...]
Coffee with Joe 11-16-09, Part 1 (of 2) Fiat Money: Debt-Based or Debt-Free?
In today’s Coffee, Part 1, Joe distinguishes between debt-based (what we have now) and debt-free fiat money systems and explains why the debt-free solution is superior to reforms suggested by Austrian economists (like Peter Schiff), such as free banking and commodity (i.e. gold) backing. In Part 2, Joe discusses the mythology behind the Continental, the [...]
The Mother of All Free Lunches
Which would you choose? The money system that confers hundreds of billions of dollars a year to the benefit of the U.S. taxpayer and leaves us with no national debt, or the one that confers $31 Billion a year, maybe, and created our $12 Trillion national debt?
“Wealth doesn’t come from a bank…” Monetary Reformer Will Abram
“Wealth does not come form a bank; it does not come from any money manipulation; it comes from us.” In this 6 minute video, Will briefly talks about growing up during the depression in Alberta Canada, before describing Canada’s experience of debt-free money issue from 1935-1974 and its barely perceptible effect on the national debt. [...]
Joe’s Montpelier Talk, 4.8.09 Part 8: Milton Friedman
In Part 8 (of 9), Joe highlights Milton Friedman’s opposition of money creation by private banks by highlighting the following quote: “A reform of the monetary and banking system to eliminate both the private creation and destruction of money and discretionary control of the quantity of money by the central bank authority. The private creation [...]
Joe’s Montpelier Talk, 4.8.09 Part 7: Robert Hemphill Quote
Under the “100 percent-reserve” lending system proposal, again banks would lend money after it was created and deposited into the banks by their depositors.
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