Comments by "Curious Crow" (@CuriousCrow-mp4cx) on "Why doesn’t the Bank of England tell the truth?" video.

  1. No; read the book "England's Cross of Gold" by Ashley James Morrison to see why not even gold is useful as international money. Without considering how taxation is required to control inflation in any system of international money, any metalist notion of it is half baked in a financial system that is global and interconnected. Gold is just a token. It is not money. It has nothing behind it except cultural sentiment, and limited industrial applications. In a modern economy, that would be worse than fiat. Uts lije mercury in a thermometer - out of date, and as monetary technology, very much less useful than other thermometer technology. We need a form of international money that operates beyond national economies. The technology is there with the advent of block chain. But without complete independence in the international form of money, there will be no peace. But theres always some smart aleck who want to control everybody else. And Gold is no different. It is we who have to change.
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  2. This is an opinion piece not a debate. Its upto you to challenge your own beliefs by looking for contrary opinions, and testing them against reality. The truth is that as only the government and institutions authorised by government can create money, there is no ownership of money beyond the government. Its very much like land, where sovereign governments have the right to structure and organise the distribution of land rights. In the UK, The Crown, in the form of the Executive in goverment has a sovereign - an overriding - right of possession and use of land, the area beneath land, and the air space above it. In the US, this right is called Eminent Domain. The same thing occurs with money. So there is no "taxpayers money" per se. Taxation removes money permanently from the system, much like a pump or lock gates control the flow of water in a watercourse. What the problem is that almost everyone is ignorant about the monetary system and the role of taxation in it. Worse tgey have been misled by political political entrepreneurs who have taught them to think negatively about taxation, and to lionise the private sector. As long as any institution - money or otherwise - is run by humans, they will occasionally make mistakes. No-one is immune to folly, but those who are not immune to folly, are not immune to the temptation to grift or self-deception either. So, ideally, we have to stop pretending that big business is somehow nore trustworthy than unions. Thats patent nonsense, because their human. Moreover, we need to make government better, and independent from both Labour and Capital. And we need to stop producing educated idiots as our politicians and oligarchs in charge of our institutions. In short, we're getting what we deserve, because we're less than sound or honest about things. Have real democracy, with devolved powers and sortition to choose who we devolved the powerr of the people too. Only until we stop settling for easy answers to hard questions, will things improve. Thats why populism has reaered its head again in mant developed countries, because their system of governance and practice of democracy is too stuck in the 19th century. And why our economics is brojen too.
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