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Bitcoin Accepted Here [by freeborn] (Photo credit: Adam Crowe)
Posted tagged ‘Barter’
Bitcoin = The Unstoppable Ingenuity Of Individuals
July 30, 2013Real Savings vs. Counterfeit Savings
July 19, 2013
Savings (Photo credit: 401(K) 2013)
RESULTS OF COUNTERFEITING
In a previous post titled, Financial Markets Move When The Puppet Master Speaks, we talked about some of the consequences the Fed creates, when it electronically counterfeits money and injects it into the economy. Some of these are 1) the misallocation of scarce resources into activities that can’t be sustained when the counterfeit money injections are halted, and 2) people’s real production is being redistributed to the first receivers of the counterfeit money (which is known in my world as theft). What’s the difference when real savings enter the market as opposed to counterfeit savings? Lets see what happens, but first let’s talk about money.
WHAT IS MONEY? (more…)
Let’s Take A Look At Bitcoin.
May 17, 2013
The bitcoin logo (Photo credit: Wikipedia)
QUESTIONS ABOUT BITCOIN.
Bitcoin has been in the news lately for a variety of reasons. Many people have never heard of it, some have but don’t really understand what it is, and others understand what it is and are excited about its potential to become the medium of exchange. Simply put bitcoin has evolved spontaneously in the free market as an alternative to paper money. The two most important questions that have to be asked concerning bitcoin are, 1) can bitcoin become money (the medium of exchange), and 2) will Governments be able to shut down the process of bitcoin becoming money? (more…)
Does The Supply Of Money Have To Increase To Accommodate Increasing Production?
April 29, 2013
Monopoly Money (Photo credit: John-Morgan)
QUESTIONS CONCERNING MONEY.
I’ve had some questions recently that have to be addressed. 1) If production increases without a corresponding increase of money, would that not cause deflation? 2) If the currency is to be increased to correspond with the increase in production, how is it increased without theft? The simple answers to these two questions are yes to the first one, and, it can’t, to the second one, but that doesn’t help us understand the why’s and how’s.
UNDERSTANDING MONEY.
I wrote a post titled, “We’re All Born In The Middle Of The Story”, in which I quote Thomas Sowell who said, “results observed at a given point in time may be part of a process that stretches far back in time“. Understanding this quote should be our default position for everything we observe and analyze. When it comes to money we are all born in the middle of the story. What do I mean by that? (more…)
AUSTRIAN ECONOMICS ADDICT 