Registered: Oct 2009
Posted November 24th, 2009 12:54 AM IP
"What Is Money?"
"Money is an extension of the free-market social order. To the extent that civil government interferes with money, it interferes with the operations of the free-market order. Interference in the area of money beyond the general application of laws governing contracts has more extensive consequences, all negative, than interference in any other area of the economy. This is because money is the universal facilitator of voluntary exchange. An error in policy in the realm of money extends to the entire society."
This is an excerpt from the introduction of the series of articles written by Gary North entitled "What Is Money?". In these articles he discusses many issues including the FED, Keynesian economics, Austrian economics, gold, and inflation. It took me a while to get through because some of the ideas took a while for me to comprehend, but I found it worthwhile. Most of the articles stand alone pretty well also so picking ones that sound interesting is also a viable option.
I thought that Part 8: Why gold has no intrinsic value was especially good.
The 17th part which is unlisted in the above link can be found here.
A ruler who hides behind paid executioners soon forgets what death is. -Eddard Stark