Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: gerard mangiardi who wrote (124980)	10/24/2012 5:45:56 PM
From: RetiredNow	2 Recommendations Respond to of 149317

Hayek was against government intervention in currencies because he believed that price fixing can lead to totalitarianism. He was against socialism and soviet communism and the loss of freedom those systems entailed. However, he was also a social liberal. This is why I like him. I am a lot like he was. I believe in a strong, stable currency, free from gov't intervention and the corruption that comes with that. However, I also believe in a strong social safety net. My difference with Democrats is how that is achieved. I believe safety nets must be paid for out of current taxes, not out of borrowing and printing. In fact, I'm in favor of anything the American people want, as long as we match spending to current tax collections. It's when the American people on both sides of the aisle want to borrow from the future or do stealth taxation through inflation of the currency that I get very disgruntled, because that is theft from people who can't defend themselves, and the benefits are often handed to the top 1%. It's a terrible reverse robinhood effect, that only "one man in a million can diagnose", as Keynes said.