Comments by "earthstick" (@earthstick) on "Dominic Frisby: Daylight Robbery -- How Tax Shaped Our Past & Will Change Our Future" video.

  1. "Give to Ceasar what [is] Ceasar's ..." taken as quoted it sounds ambiguous. Does that mean Ceasar owns the money because it has his head on it but Ceasar has no claim on anything else?
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  2. This may be a move to completely debase fiat currency so that we do in fact move to a different currency. Maybe a cryptocurrency so Dominic may get what he wishes for. But is that a good thing? Bitcoin is a deflationary currency. There is an absolute maximum of 23M bitcoins. Some of those have been lost already in wallets that have been lost on peoples computers - remember the guy who threw away his laptop with the key to his wallet on it? Now the lost bitcoins are out of circulation there are only 21M possible bitcoins. So the value of bitcoin increases overtime rather and decreasing. That encourages people to save rather than spend. You will still get no interest on your savings because there is no money to pay to savers. Furthermore if you have debt then you are in trouble. The problem is that it really does become impossible to repay debt because there really is not enough money to pay it. With a fiat currency there is no limit to the amount of money. It is always possible to repay debt by borrowing more. It incurs more interest but that can be paid in the same way. If the rate of monetary increase is greater than the demand for money then there will be price inflation and the money hase been devalued because there is more money sloshing about with the same amount of goods and services to pay for. Price inflation encourages people to spend rather than save. Having a limitless currency is not necessarily a bad thing. It is always possible to meet demand for money such as when the population increases. The rate of monetary increase is what is important. It must equal demand. No more and no less. Otherwise you get deflation or inflation and neither of those are desirable.
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  3. Have you thought about the consequences of what he proposes regarding fiat currency?
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  4. I agree with Dominic on government debt and taxation. They tax us to pay interest on the debt they took out that we never asked for. Expand their own powers and have us pay for it. Before long the government controls everything and anything we earn is taken from us for the privilege. It is outrageous. But I think when we start discussing such a fundamental issue of how are monetary system is going to work then we have to have a balanced discussion. Fair money is a foundation stone of civilisation. So far Dominic has aired his view many times and there has been no critical examination of it. We have had a deflationary currency before - gold. It lead to fractional reserve and interest. Cryptocurrencies are a kind of virtual gold. So from that perspective they are regressive. I don't see any need to repeat the previous system. We need a truly new system.
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  5. We also need to remember when it comes to debt, unless you have personally taken out a loan where you signed a loan agreement - a mortgage, car loan, credit card etc. Unless you have do that you have no debt. I personally have _zero_ debt. The government acts on behalf of the monarchy.
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  6. In a parallel universe somewhere billions of people call themselves Ickeians.
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