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Vintage Ron Paul *** "Paper Is NOT Money!" (1983)

1983. 3 minute clip.

His integrity is legendary. (I love him).

Your loss if you don't watch.

http://www.youtube.com/watch?v=k176zfRq1mE

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"Money, paper money, and...

(it's) creation didn't come out of the marketplace, that came out of the heads and the fantasies of the intellectuals and government officials out there who want paper to be money. But, never out of the marketplace.

Assert Your Authority

Republicae's picture

Actually, you are incorrect,

Actually, you are incorrect, money was a rather spontaneous medium that arose out of markets and preceded the creation of government by more than a few years. There is evidence that the markets gave rise from a barter economy to a monetary economy rather early in the history of man. The evolution of that money can be traced back several thousands of years and while the actual point where it evolved from a barter economy is lost in the depth of time long past, there are traces of such transactions reaching back into neolithic periods, of course, it was primitive to say the least, but the evidence is there that there were such transactions being conducted long before the advent of anything we could consider government.

The entire concept of the market assumes transactional exchange, first in terms of goods and serves bartered and then those transactions progressed as the needs of markets expanded, particularly on various ancient trade routes. Money is the natural outcropping of the market place and the results of the necessities that arose out of trade.

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Then argue with Ron...

my quote is straight from his words in the video.

Assert Your Authority

Republicae's picture

No need to argue with Dr.

No need to argue with Dr. Paul, he was very specific when speaking about one form of money that did not arise from the market and that is fiat money, in particular paper fiat money. So, listen to it again, he states that it is fiat paper money that never arises from the market. Throughout history that has never been an instance where a fiat paper money has arisen from the market, but, as history clearly denotes, that fiat money always, without exception, arises from some form of government decree.

Real money, commodity money of all sorts, most definitely evolved from the barter economy. Such money arose from the voluntary actions of people through transactional markets and did not require either governments, government intervention or government coercion in order to enforce its use as a medium of exchange.

As I said, money arose from the markets, and if you listen to Dr. Paul, both in this video and others, including his writings and those Austrian Economists whom he has followed, you will find that is very much the case.

Thus, when you stated that "money, paper money...and its creation" did not come from the market, you are only partially correct in that statement for only paper fiat money did not arise from the market.

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Look, I understand what you are saying...

and I understand the difference between commodity money and fiat money, but my original post is a TRANSCRIPTION from the video clip. Listen again from point 2:05 to 2:18.

If you think I'm putting words in Pauls mouth then check the video again and again, I'm not. All I did was TRANSCRIBE his statement. Anyone with half a brain who watches this video will know that he is refering to the differences between fiat and commodity based money...

I respect ALL the information that you put out on the DP and your blog sites, but damn, why are you smacking me down for an accurate TRANSCRIPTION?

Assert Your Authority

Republicae's picture

I am not trying to smack you

I am not trying to smack you down, only pointing out that based upon the context of the speech Dr. Paul gave on the subject it would be easy to misconstrue what he was saying by the snippet your quoted. Dr. Paul is however, very clear about the contradistinctions between the two types of money and how they arise.

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

True dat! Cattle and livestock were neolithic money

Common, mostly stable, and of a known value

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RON PAUL 2012

Yup, cigarettes have more value than our dollar

.

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RON PAUL 2012

Like in prison -

which could be an accurate comparison...

Obama = O.ne B.ig A.ss M.istake A.merica

Nice observation

Sometimes I think this planet is run like some kind of alien penal colony, and laugh

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RON PAUL 2012

great!

great!

It's excellent

...(day)

Obama = O.ne B.ig A.ss M.istake A.merica