War on Purchasing Power?

[don]

gold, abandonment of paper money, the evils of inflation and the need to preserve purchasing power are right out of the Libertarian and Austrian Economics playbook – except it’s about Islamic Sharia Law.

http://maxkeiser.com/2010/08/01/libe...aw-you-decide/

[deflateIT]

Re: War on Purchasing Power?

I liked the video very much.

[doom&gloom]

Re: War on Purchasing Power?

ditto!

[chr5648]

Re: War on Purchasing Power?

I wonder how extensive their war mongering and social welfare systems are?

[don]

Re: War on Purchasing Power?

I wonder how extensive their war mongering and social welfare systems are?

Star Wars or Planet Based?

Sharia TBTF remain undocumented....

[c1ue]

Re: War on Purchasing Power?

The video is very well targeted to the American Libertarian mind view, but fails to note a number of issues with gold and silver as legal tender:

1) Government intervention: The government in Malaysia is permitting this bifurcation of currency. Few governments in the rest of the world seem willing to do so

2) The increase in purchasing power of the dirhans/dinars is as much due to the commodity price increase as it is to the rupiah's fall. It can be argued that they are related, but the failure to distinguish between Malaysian rupiah policy and commodity price value is a telling omittance.

3) Who's the white guy accompanying the salesman/spokesman? The video is as much a pitch a la GoldLine as it is an economic primer.

4) I wonder about the gold dinar/silver dirhan. One problem with private/pseudo private coinage is debasement. Where are the guarantees against that?