Bill Still continues Max Keiser attacks on Gold Standard and Austrian EconomicsSubmitted by the_chiefe71 on Sat, 09/15/2012 - 03:44
Continuing in his tradition of pushing for a fiat "debt-free" Greenback dollar, Bill Still has launched yet another attack on Austrian School of economics. He is continuing Max Keiser's ill-advised attack on Austrian economics, and in fact enmity with Tom Woods. He's making same ridiculous statement that von Mises institute, Ron Paul etc are "fake" libertarians. He has literally embedded garbage spewing out of Max Keiser's mouth as argument to "strengthen" his claim. The fact is, using juvenile diatribes of Max Keiser only weaken Bill Stills' argument, if anything.
Bill Still makes a ridiculous claim that Austrian school of economics is only obsessed with gold standard and DOES NOT care about problem of fractional reserve banking. Nothing could be further from the truth. Where is it established that establishing gold standard is totally disconnected from abolishing fractional reserve banking? There is nothing stopping establishment of gold standard being combined with abolishing of fractional reserve banking.
I've already posted comment on Tom Woods' blog alerting him of this nonsense. I'm sure Tom Woods is more than capable of tearing down Bill Stills' illogical argument, just as he is tearing down Max Keiser.