Re: [Pen-l] Many happy (Austrian) returns

[Shane Mage <shmage@xxxxxxxxxxxx>]

On Oct 24, 2008, at 12:26 AM, Sean Andrews wrote:

Just out of curiosity, other than gold and what Dr. Paul calls "fiat
money," what other option is there?  Using shells? shiny beads? labor
chits? It is gold and the free market or nothing at all.

There is another option, you know: socialization of the banking system together with a gold standard--like the USSR in the 1920's, when the currency was anchored on the gold ruble (chervonets). In the policy debates under NEP among Trotsky, Bukharin, Sokolnikov, Preobrazhensky et. al., that was not in question.

Shane Mage

This cosmos did none of gods or men make, but it

always was and is and shall be: an everlasting fire,

kindling in measures and going out in measures."

Herakleitos of Ephesos

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