Thread by @HoppeQuotes

“The process of #centralization has resulted in #monetary disintegration :”… (1/6)
Democracy: The God That Failed

“… the destruction of the former international commodity (gold) #money standard and its replacement with a #dollar-dominated system of freely fluctuating government paper monies, i.e., a global, U.S.-led government counterfeiting cartel” (2/6)

“However, a system of freely fluctuating paper currencies – the Friedmanite-#monetarist ideal – is strictly speaking no monetary system at all. It is a system of partial barter -dysfunctional of the very purpose of #money of facilitating rather than complicating exchange” (3/6)

“This becomes obvious once it is recognized that from the point of view of economic theory, there is no special significance attached to the way national borders are drawn” (4/6)

“Yet if one imagines a proliferation of ever smaller national territories, ultimately to the point where each household forms its own country, Friedman's proposal is revealed for what it is - an outright absurdity” (5/6)

“For if every household were to issue its own paper #currency, the world would be right back at barter. No one would accept anyone else's paper, economic calculation would be impossible, and trade would come to a virtual standstill” (6/6)