History of Money & Exchange | Currency Debasement Then & Inflationism Now
Release Date: 03/27/2020
What are the costs of UBI? Pros and Cons of Universal Basic Income
The Libtard Podcast
-Who could be against free money?
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Bonus: Readings on "The Division of Labour"
The Libtard Podcast
An old file, and an old idea I had, to quote at length several passages that were crucial to forming my own understanding of what the "division of labour" is. I have a new script to redo this episode without the long and tedious quotes, so you can expect that soon. In the future I will provide my own summary of important readings and why I care, rather than just quoting straight from the source material.
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Thoughts & predictions on the upcoming global depression
The Libtard Podcast
New style in this episode as I freestyle my thoughts rather than write them all down first. Lots of hmm's and uh's which is something for me to work on. I talk about the cause and effect of economics, the anti-science dogmatism of Keynesianism, global inflation trends as well as history, and the interventionists attempt to create an unending boom.
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The Classical Liberal vs. Humanist argument against war
The Libtard Podcast
Not all arguments are created equally. How does a Humanitarian argue against violence and war? How does a Classical Liberal? Why are these not the same? Besides, who's really pro-war anyways?
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History of Money & Exchange | Currency Debasement Then & Inflationism Now
The Libtard Podcast
A history of human exchange. From Barter: "The armour of Diomede, says Homer, cost only 9 oxen; but that of Glaucus cost a hundred oxen", to the modern money economy and digital banking. How was currency debased then, and how is it done today? + Money assumes private property and a division of labour, so cannot exist in a pure socialist society. I didn't mention it here much, but Lenin's attempts to abolish money and the progressive return to the NEP's use of a gold standard make for remarkable reading.
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Canadas $82 billion stimulus: How does it work and who gets the money?
The Libtard Podcast
On March 18th 2020 Canadian PM Justin Trudeau announced an $82 fiscal stimulus to aid during the current economic downtown. Here I discuss where the money comes from, who it goes to, why we have policies like this in place, and what the effects are likely to be.
info_outlineA history of human exchange. From Barter: "The armour of Diomede, says Homer, cost only 9 oxen; but that of Glaucus cost a hundred oxen", to the modern money economy and digital banking. How was currency debased then, and how is it done today? + Money assumes private property and a division of labour, so cannot exist in a pure socialist society. I didn't mention it here much, but Lenin's attempts to abolish coinage/money and their inevitable return in the NEP's use of a gold standard are remarkable. Solzhenitsyn has of course written about it, as well as Nikolai Shmelev & Vladmir Popev's book coming from the economists inside the communist party. They did not themselves stop believing socialism was inevitable.
"Hyperinflation in early Soviet Russia connotes a seven-year period of uncontrollable spiraling inflation in the early Soviet Union, running from the earliest days of the Bolshevik Revolution in November 1917 to the reestablishment of the gold standard with the introduction of the chervonets as part of the New Economic Policy. The inflationary crisis effectively ended in March 1924 with the introduction of the so-called "gold ruble" as the country's standard currency.
The early Soviet hyperinflationary period was marked by three successive redenominations of its currency, in which "new rubles" replaced old at the rates of 10,000-to-1 (January 1, 1922), 100-to-1 (January 1, 1923), and 50,000-to-1 (March 7, 1924), respectively."
The Soviet Union needed to essentially recreate the entire currency 5 times in 5 years, ending finally in a return to the gold standard, in order to recover from the absolute anarchy and countless human deaths caused by the destruction of the medium of exchange.