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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (70258)	1/9/2011 12:47:31 PM
From: Metacomet	Read Replies (1) \| Respond to of 217738

Here ya go... mises.org

To: Cactus Jack who wrote (70258)	1/9/2011 3:28:43 PM
From: pogohere	2 Recommendations Read Replies (2) \| Respond to of 217738

and then there's the refutation of White, referred to here: The reigning error on government and money has taken billions of dollars to create. Its epitomized in The distinguished conservative journalist Henry Hazlitt's introduction to Andrew Dickson White's essay, Fiat Money Inflation in France, a classic attack on government: "(The) world has failed to learn the lesson of the Assignats. Perhaps the study of the other great inflations - of John Law's experiments with credit in France …; of the history of our own Continental currency …; of the Greenbacks of our Civil War; of the great German inflation that culminated in 1923 - would help to underscore and impress that lesson. Must we, from this appalling and repeated record, draw once more the despairing conclusion that the only thing man learns from history is that man learns nothing from history?" Hazlitt really believed history backed up his viewpoint, but it does not, when one bothers to look. THE CONTINENTAL CURRENCY of the American Revolution. $200 million were authorized and $200 million issued. They functioned well until General Howe made New York City the center for British counterfeiting. The Brits counterfeited billions of our Continentals. If you ever find out how many, please let us know for the record! Newspaper ads openly offered the forgeries; yet General Clinton complained: "The experiments suggested by your Lordships have been tried, no assistance that could be drawn from the power of gold or the arts of counterfeiting have been left untried; but still the currency...has not failed." The Continentals carried us over 5½ years of Revolution to within 6 months of final victory. Tom Paine wrote: "Every stone in the Bridge, that has carried us over, seems to have a claim upon our esteem. But this was a corner stone ...to suppose as some did, that, at the end of the war, it was to grow into gold or silver… was to suppose that we were to get 200 millions of dollars by going to war, instead of paying the cost of carrying it on." The Continental Currency gave us a nation. France's Money System was brought down by John Law a fugitive Scottish gambler. But Law's operations were structured as private companies despite his recommending governmental structures. After an initial widely hailed success in 1720, his main focus became raising the price of the private company shares. Law's system was thus largely a failure of private money speculation. The more obvious lesson is that it is not a good idea to turn your nation's money system over to a professional gambler wanted for murder in his home country! DUH. France's later Assignats from 1789 were government issued, but in a society ruined by aristocratic extravagance and revolution. In the money battle White's short book Fiat Money Inflation in France is a major propaganda weapon against government money and is direct evidence of how the battle is fought. But the book was written in 1876 during the Greenback battles, 100 years after the Assignats, to block the Greenbacks. Stephen Dillaye writes us that White, whose inherited fortune arose from banking, neglected to mention that Britain counterfeited far more Assignats than the French ever created. This was documented in English court cases where the counterfeiters sued each other! Whites book has somehow been continuously kept in print by conservative foundations, the latest being the Cato Institute; Dillaye's important essay, out of print for 125 years is quite rare but we managed to find one, and will reprint it. cooperativeindividualism.org Assignats And Mandats (ISBN: 1151551856 / 1-151-55185-6 ) Dillaye, Stephen D. amazon.com abebooks.com