[P2P-F] "Currency Wars" ?
Michel Bauwens
michel at p2pfoundation.net
Mon Nov 14 02:53:04 CET 2011
http://p2pfoundation.net/First_Five_Thousand_Years_of_Debt#Credit_vs_gold_in_the_cycles_of_history
thanks!!
On Mon, Nov 14, 2011 at 4:58 AM, Tere Vadén <tere.vaden at uta.fi> wrote:
> Ch 8, CREDIT VERSUS BULLION AND THE CYCLES OF HISTORY, e.g., p. 213:
>
> "If we look at Eurasian history over the course of the last five thou
> sand years, what we see is a broad alternation between periods domi nated
> by credit money and periods in which gold and silver come to dominate-that
> is, those during which at least a large share of transac tions were
> conducted with pieces of valuable metal being passed from hand to hand.
> Why? The single most important factor would appear to be war. Bullion
> predominates, above all, in periods of generalized violence. There's a very
> simple reason for that. Gold and silver coins are distin guished from
> credit arrangements by on� spectacular feature: they can be stolen. A debt
> is, by definition, a record, as well as a relation of trust. Someone
> accepting gold or silver in exchange for merchandise, on the other hand,
> need trust nothing more than the accuracy of the scales, the quality of the
> metal, and the likelihood that someone else will be willing to accept it.
> In a world where war and the threat of violence are everywhere-and this
> appears to have been an equally ac curate description of Warring States
> China, Iron Age Greece, and pre Mauryan India-there are obvious advantages
> to making one's trans actions simple. This is all the more true when
> dealing with soldiers."
>
>
> On 11/12/11 2:05 PM, Michel Bauwens wrote:
>
>> tere, do you have the page numbers or secion headings 4 that?
>>
>> On Sat, Nov 12, 2011 at 5:51 PM, Tere Vaden <Tere.Vaden at uta.fi
>> <mailto:Tere.Vaden at uta.fi>> wrote:
>>
>> Yes, the possible centralization (and physical capture) of gold seems
>> to be one of the reasons that gold as currecy (or gold-backed
>> currency) goes relatively tightly together with imperial and
>> expansive-aggressive regimes, as David Graeber points out in his book
>> Debt.
>>
>> Quoting Dante-Gabryell Monson <dante.monson at gmail.com
>> <mailto:dante.monson at gmail.com**>>:
>>
>>
>> > Sure - thanks for reading.
>> >
>> > Yes, personally, various views can be of interest, even if only for
>> > understanding, or questioning.
>> >
>> > As for gold, I am personally ok with gold backed currencies for
>> certain
>> > complementary currencies for those who choose to use them,
>> >
>> > but on a large scale, I do not wish to go back to a gold standard,
>> > because there is a very limited amount of gold in the world,
>> > and this makes it easier to centralize control,
>> > hence easy to control a monetary system backed by gold,
>> > by buying ( or taking by force ) gold reserves.
>> >
>> > Hence I personally support a hybrid - networked approach,
>> > with a variety of solutions ( some providing community and/or local
>> > economic resilience, others easier for global trade, ... ) , as
>> to avoid
>> > monopolies in relation to some specific currency or
>> financial/economic
>> > system.
>> >
>> > On Fri, Nov 11, 2011 at 3:14 AM, Natalie Golovin
>> <10natalie at cox.net <mailto:10natalie at cox.net>> wrote:
>> >
>> >> Rikards is excellent. He?s also very Christian and a Goldbug.
>> Kudos 4
>> >> being broad-minded.
>> >>
>> >> *From:* Dante-Gabryell Monson <dante.monson at gmail.com
>> <mailto:dante.monson at gmail.com**>>
>>
>> >> *Sent:* Thursday, November 10, 2011 3:52 PM
>> >> *To:* econowmix at googlegroups.com
>> <mailto:econowmix@**googlegroups.com <econowmix at googlegroups.com>> ;
>> >> p2p-foundation<p2p-foundation@**lists.ourproject.org<p2p-foundation at lists.ourproject.org>
>> <mailto:p2p-foundation at lists.**ourproject.org<p2p-foundation at lists.ourproject.org>
>> >>
>>
>> >> *Subject:* [P2P-F] "Currency Wars" ?
>> >>
>> >>
>> >>
>> http://www.youtube.com/watch?**feature=player_profilepage&v=**
>> rAPM7syIcts#t=1040s<http://www.youtube.com/watch?feature=player_profilepage&v=rAPM7syIcts#t=1040s>
>> <http://www.youtube.com/watch?**feature=player_profilepage&v=**
>> rAPM7syIcts#t=1040s<http://www.youtube.com/watch?feature=player_profilepage&v=rAPM7syIcts#t=1040s>
>> >
>> >>
>> >> Financial War Game :
>> >>
>> >> "Using Stocks, Bonds, Currencies and Derivatives to fight a war...
>> "
>> >>
>> >> "Fiat - Organized theft, giving it to the elites"
>> >>
>> >> "Europe can not pay its debt, but you can print some SDR's... "
>> >>
>> >> http://en.wikipedia.org/wiki/**James_G._Rickards<http://en.wikipedia.org/wiki/James_G._Rickards>
>> >>
>> >>
>> >>
>> http://www.amazon.com/**Currency-Wars-Making-Global-**
>> Portfolio/dp/1591844495/ref=**sr_1_1?ie=UTF8&qid=1314198116&**sr=8-1<http://www.amazon.com/Currency-Wars-Making-Global-Portfolio/dp/1591844495/ref=sr_1_1?ie=UTF8&qid=1314198116&sr=8-1>
>> <http://www.amazon.com/**Currency-Wars-Making-Global-**
>> Portfolio/dp/1591844495/ref=**sr_1_1?ie=UTF8&qid=1314198116&**sr=8-1<http://www.amazon.com/Currency-Wars-Making-Global-Portfolio/dp/1591844495/ref=sr_1_1?ie=UTF8&qid=1314198116&sr=8-1>
>> >
>> >>
>> >> SDR :
>> >>
>> >> http://en.wikipedia.org/wiki/**Special_Drawing_Rights<http://en.wikipedia.org/wiki/Special_Drawing_Rights>
>> >>
>> >> ///
>> >>
>> >> http://en.wikipedia.org/wiki/**Currency_war<http://en.wikipedia.org/wiki/Currency_war>
>> >>
>> >> *Currency war*, also known as *competitive devaluation*, is a
>> condition
>> >> in international
>> >> affairs<http://en.wikipedia.**org/wiki/International_**relations<http://en.wikipedia.org/wiki/International_relations>
>> >where
>> >> countries compete against each other to achieve a relatively low
>> >> exchange
>> >> rate <http://en.wikipedia.org/wiki/**Exchange_rate<http://en.wikipedia.org/wiki/Exchange_rate>>
>> for their own
>> >> currency<http://en.wikipedia.**org/wiki/Currency<http://en.wikipedia.org/wiki/Currency>
>> >.
>> >> As the price to buy a particular currency falls, so to does the
>> real price
>> >> of exports from the country. Imports become more expensive too,
>> so domestic
>> >> industry, and thus employment, receives a boost in demand both
>> at home and
>> >> abroad. However, the price increase in imports can harm
>> citizens' purchasing
>> >> power <http://en.wikipedia.org/wiki/**Purchasing_power<http://en.wikipedia.org/wiki/Purchasing_power>>.
>> The
>> policy can
>> >> also trigger retaliatory action by other countries which in turn
>> can lead
>> >> to a general decline in international trade, harming all countries.
>> >>
>> >> ------------------------------
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>> >>
>> >
>>
>>
>>
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