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<p>[QUOTE="kaparthy, post: 3718661, member: 57463"]Thanks for the long and thoughtful reply. I really appreciate your time and consideration. Let's just hash out the dialectic here and deal with our disagreements.</p><p><br /></p><p>Nothing is "backing" the dollar except that the government accepts it in payment for services. If you issued your own money to buy goods and services and took it back in return for your labor, you would be following the same model. See the books by E. C. Riegel that I recommended.</p><p><br /></p><p>Cows were money because they were useful. You cannot eat gold. It has no use -- except as money. Even Ayn Rand said that the only value in gold is that other people will honor it in exchange for their productive effort.[/QUOTE]</p><p><br /></p>
[QUOTE="kaparthy, post: 3718661, member: 57463"]Thanks for the long and thoughtful reply. I really appreciate your time and consideration. Let's just hash out the dialectic here and deal with our disagreements. Nothing is "backing" the dollar except that the government accepts it in payment for services. If you issued your own money to buy goods and services and took it back in return for your labor, you would be following the same model. See the books by E. C. Riegel that I recommended. Cows were money because they were useful. You cannot eat gold. It has no use -- except as money. Even Ayn Rand said that the only value in gold is that other people will honor it in exchange for their productive effort.[/QUOTE]
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