A late one for the weekend: Money From Nothing

The Internet is becoming a real problem for the world’s propagators of printed paper money, because from its modern western invention in Massachusetts, in 1690 — which is best detailed in Murray Rothbard’s History of Money and Banking in the United States — the states of the world have successfully led an enormous complex propaganda mission to convince us that paper money is one of the greatest inventions of all time, on a par with fire, the wheel, and writing.

However, that continuing propaganda mission to prop up endlessly printed money is beginning to run into the sand.

Too many people are learning the truth behind paper money, in that it is the means via which the state continually robs us for its own selfish purposes, without us realising that it is doing so.

Unfortunately for these paper-money states, that last bit about us not realising this is becoming less true by the day, mainly because of the Internet, as demonstrated, amongst many other examples, by the interesting YouTube below.

Strangely, and in one sense only, I agree with these states that unbacked fiat paper money — which can be printed without limit — is a great negative invention. In the same way that nuclear weapons, weaponised anthrax, and nerve gas are great negative inventions.

Let us hope that the great positive invention of the Internet finally puts unbacked fiat paper money into the same generally-perceived category as all of these other terrible statist great negative inventions, rather than being perceived much longer by anyone as being something positive (except by the states that benefit so much from it).

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