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(The Year 2012 In Review)
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|User Info||Followup: Reserve Banking; entered at 2009-03-16 07:25:00|
Registered: 2008-12-07 Yurop
This is one area that I have not been able to figure out what Mish is advocating.
He has freaked out on Rothbard and wont change his position.
He wrote the following a few days ago in the comment section of his blog:
"The scheme defrauds everyone because it affects the prices (by cheapening the dollar) of everyone else not involved in the transaction.
The fact that two people agree it is OK does not make it so. Rothbard has presented a strong argument on this."
The problem is that there are millions of other ways to affect prices. Barter with goods and services reduces the need for dollars. Companies use own shares as payment. Usage of dollar cash has to be enforced everywhere.