The Kuyperian Commentary

Politics, Economics, Culture, and Theology with a Biblical Viewpoint

Archive for the tag “precious metals”

Money Comes From Society; The State Steals Credit

printing-moneyby Mark Horne

It is pretty common to hear conservatives or libertarians deride “fiat currency” as if it is worthless trash. They are absolutely right to insist that it is flawed. And those flaws will certainly lead to a bad end some day. But that is not the same as claiming it is “worthless.” If it were worthless, no one would give you anything in exchange for it. But they do.

The common claim is to say that money is “government created.” Supposedly, this leads to the conclusion that the money must not be really worth anything. But that is not the only way the argument could work. Many people hear that money is created by the state and then see how well it works for buying things and conclude that the state must be pretty competent in creating currency (I’d say, “making money,” but that would be confusing). Read more…

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