-- James A. Donald:
It took governments a generation and the vigorous and frequent application of bayonets and batons to render their money independent of precious metals.
Anonymous:
but why did governments engage in the vigorous and frequent application of bayonets and batons to render their money independent of precious metals?
James A. Donald:
Because they could.
Anonymous:
This goes beyond gratuitous demonstration of power and ability, there is an economic reason behind it all. What is / their / economic reason?
It is more lucrative to issue pure fiat money, than to issue money backed by gold. --digsig James A. Donald 6YeGpsZR+nOTh/cGwvITnSR3TdzclVpR0+pr3YYQdkG eQEowuGI8WpNHqO556F5HndPZm6+Oss3V0doEbar 4QHYJ0Jb9HD8hvRd9MHwufYOCn3mtcwAnq2A83TJR