Graeme’s money rant

No I won’t stop insulting them because they get onto this subject and they become everything I hate about left-wingers.

See how Jason is lying and implying that I was after an instant collapse of the money supply. By banning fractional reserve overnight without the cash to replace the destroyed FIDUCIARY MONEY….

See how he tried to lie to third parties in this way?

You might not have picked that he was lying. That is to say that he had an imbedded IMPLIED-LIE about me that he was trying to use to derail the argument.

Did you see him at it?

Well thats a switcheroo. Because for a very long time he wouldn’t admit that banks could create money out of thin air…

… He wouldn’t admit to the money supply being more then just notes and coins.

And when I’d try to press him for this he’d be evasive and disappear for weeks on end ON THAT THREAD… of course he was going nowhere. He was just waiting until third parties had forgotten that he had been cornered.

But now he comes back here. And he appears to have finally discovered that fiduciary money is a real and legit. part of the money supply and that if you destroy it you will have a depression.

Whereas in the past he’s always launched his bullshit and tendentiousness from the contrary perspective.

Actually Terje could testify to this but would not likely be inclined to since I was pre-emptively laying the abuse onto him as well, and mostly simply because the serial bullshit artists Jason and Mark were present.

And now I’m not saying that Jason and Mark are always so very dishonest.

Matter of fact when Mark (for example) is just working things out for his own self he’s often very good.

But when they get talking about money they use all the same techniques that Lambert would try on over at Deltoid smug hard-leftists would more generally have you on with.

One reason they do this is because people just tend to go crazy on the subject of money.

The other reason is that on this subject they are like centre-left-wingers in that they have a PUNDIT…..

…..They are relying on a pundit or three…

… There is some pundit riding their shoulder like a midget-Hitler, eternally buggering their ear.

That tends to be how centre-LEFTISTS function.

And to Mark and Jason, whereas they have some understanding of economics more generally, they don’t have any understanding of monetary economics and so they use this pundit-buggery to fill in the gaps in their brain-space.

The main technique of the victim of earhole-pundit-buggery is the implied-lie.

So the idea is to come down on them very hard and then get Sukrit to show up and thin the posts down on both sides once an authentic and more honest debate starts up.

What we need for a viable free enterprise system is for the demand-for-cash-for-holding to be high and very stable….

… And for the SUPPLY-OF-MONEY to NEVER fall…

To never fall and yet to grow only slowly.


To never NEVER fall but to grow only slowly.

We want the money supply to grow, consistent with total spending growing only slowly but NEVER FALLING.

Now THAT’S even harder to do.

If we cannot get this with free enterprise money the leftist opposition has the edge in the political debate.

And they (under those circumstances) have some advantages in reality also.

Because if both the demand and supply of money are gyrating all over the place, then it makes sense to have a central bank that can increase the supply of cash to compensate for a sudden drop in the supply of fiduciary money, or for a sudden increase in the demand for cash for holding.

The only way we can outcompete the central bank devotees, both in theory and in practise, is to get rid of fractional reserve banking.

But this is the situation POST-TRANSITION.

In transition it is even more important to get to 100% backing.

Because in transition things can go horribly wrong.

And having 100% backing, means that the Reserve Bank Chairman…. now running the Reserve Bank as if it were a transitional authority…


With 100% backing the Reserve Bank Governor can potentially guide the monetary system in transition.

Because he will quickly be able to hit the nominal GDR (Gross Domestic Revenue) targets he sets for himself.

So if we:

1. End Legal Tender Laws


2. Introduce government gold, silver, platinum and large copper coins.

or we then:

3. Phase out government coining and throw it open to all comers under light-touch-regulation….


4. The government starts hoarding precious metals as a war chest…

… and so on.

Under all these situations, under the current fractional-reserve monetary system…. if we were in transition to a totally free enterprise monetary and financial system….

… and we were facing any of these changes… then under the current system the Reserve Bank would likely BLOW-IT and send us into a bubble-economy, or a recession.

Currently they have an inbuilt bias to money-creation… This inbuilt bias is there for many reasons but one of them is that its very hard, under fractional reserve, to have very slow demand growth, without accidentally slipping into a recession…

The Reserve Bank Governor, while negotiating these changes, could very well send us into depression or even hyper-inflation (of at least the fiat currency) if we were succesful in pushing these changes through.

And it would be a tragedy for the individuals hurt by these fuckups… But as well it would come down on OUR heads for pushing through these changes in the first place.

But under 100% backing the Reserve Governor, even if he isn’t me, will be able to hit what he aims at…. and after awhile WILL HAVE NO EXCUSE FOR NOT!!!! HITTING WHA HE AIMS AT….

….he will be able to guide matters through these necessary changes, without screwing things up and discrediting the free-enterprise project.

What we must come down most strongly on is any of the monetary cranks suddenly PUTTING ON THE ANARCHO-CAPITALIST HAT when we know they are not anarcho-capitalists.

The most prominent anarcho-capitalist who is in favour of fractional reserve is David Friedman.

He has a vision of a near-perfect monetary system.
and it is not a vision that Mark or Jason or anyone who tendentiously puts on the anarcho-capitalist hat shares.

Now he has the right to put on the anarcho-capitalist hat and if he shows up I will argue with him that 100% backing is still more appropriate in transition….

…. and that debate would be an honest debate.

But if Mark and Jason or anyone else who is not an anarcho-capitalist makes the argument from the argument from SUDDENLY-PUTTING-ON-THE ANARCHO-CAPITALIST-HAT….

… then all of us, and not just me, must come down on any such person with mega-amounts of abuse.

Because this is them playing silly-buggers,arguing from bad faith, and getting in the way of this new free enterprise revolution that we are working to put in motion.


11 Responses to “Graeme’s money rant”

  1. graemebird Says:

    Look at that.

    The Lengths that these monetary cranks will go to, in order to stop people being educated about the monetary economics of liberty.

    I tell you that Humphreys will not be a safe pair of hands for a very long time.

    The first thing he did was block me from the whole thread.

    That was this ectomorphs first mistake.

  2. John Humphreys Says:

    I didn’t block your original post. It was caught in the wordpress filter. I retrieved it and posted it here for everybody to see and then I provided a link to it.

    You wrote a string of abusive and reptitive comments. I deleted those and asked you to stop dominating the comments with your abuse.

    You responded with a string of over 30 abusive and reptitive comments. I consider that comment spam and so you are now on moderation on the ALS blog. You are free to say anything you like here without moderation.

  3. graemebird Says:

    Don’t bullshit me fella.

    You started by blocking me from that role-of-government thread right from the getgo you lying cunt.

    Now repent you fuck and take all the blocks off and don’t do it again.

    What an idiot you are.

    You have total control of that forum.

    This is a total fucking pantomime on your part.

    I was in full knowledge of the fact that you could erase any comment of mine.

    Now stop getting in the way or the party will have to start a blog that you cannot get your pious mits on..

    And fucking own up to putting a block on me for that one thread.

  4. Jason Soon Says:

    you set yourself up. your comment went into automatic moderation because of a swearword and then you blew up just because of that and john had to block you. it’s happened to you before on catallaxy.

  5. graemebird Says:


    But Humphreys blocked me from the role-of-government thread prior to that.

    I was like over an hour trying to get on.

    And he must have even had a block on silly-buggers because I tried getting rid of all the other swear-words.

    I tried getting rid of words like liar and lying and thats when I was getting posts through.

    Hence all the spelling changes.

    Don’t know what Humphreys was up to.

    I was determined to have a go at him for blocking me from the thread in the first place.

  6. John Humphreys Says:

    I didn’t block you from the start Graeme.

    When I checked the blog you had already written a couple of complaints about being blocked. I found your blocked post and moved it here and then deleted a few of your rants and asked you to stop ranting.

    It wasn’t until your subsequent meltdown that I put you in moderation.

  7. Jason Soon Says:

    Maybe the Keynesians got to him! LOL!

  8. John Humphreys Says:

    The Keynesians! Argh! Don’t be scared… 😉

  9. graemebird Says:

    There was no meltdown.

    If you block me from a thread you are going to pay some sort of price for that.

    And Jason. This money business has to get sorted, so your sick leftist impersonations whenever the subject comes up.

    Now why do you do it Soon?

    Your argument against 100% backing, when it isn’t that laughable anarcho-capitalist-hat argument just is not there.

    Yet time after time your filibuster like a commie when it comes to this subject.


    You ought to think about cedeing control of the that blog to someone with a little better judgement.

    You evade arguments you don’t like. You gave me crap when I asked you for evidence for the likelihood of catastrophic warming.

    You’re like a new Martian immigrant or like a really bright early teenager.

    You are not ready to control the tenor of the debate.

    You are not up to it.

    Of course its your blog and you can do what I want and I can abuse you with equal righteousness.

    But you ought to think about ceding control of internal debates for a few years, even if on an iron-clad promise to get that control back.

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