Re: Artikel zu Gold und Geld / dottores Meinung würde mich interessieren mL

verfasst von Oldy, 11.10.2001, 01:17

>Auszüge:
>How Much Money Should There Be?
>Most economists believe that a growing economy requires a growing money stock, on grounds that growth gives rise to a greater demand for money which must be accommodated. Failing to do so, it is maintained, will lead to a decline in the prices of goods and services, which in turn will destabilize the economy and lead to an economic recession—or, even worse, depression.
>..............
>It would appear that the central bank can manage and stabilize the monetary system. The truth, however, is the exact opposite. To manage the system, the central bank must constantly create money"out of thin air" to prevent banks from bankrupting each other. This leads to persistent declines in money’s purchasing power, which destabilizes the entire monetary system. This tendency to destabilize the system is also reinforced by the fact that a money monopolist naturally has the incentive to look after his own interest.
>............
>Since the present monetary system is fundamentally unstable, the central bank is compelled to print money out of thin air to prevent the collapse of the system. It doesn’t really matter what scheme the central bank adopts as far as monetary injections are concerned. Regardless of the mode of monetary injections, the boom-bust cycles will become more ferocious as time goes by.
>............
>In a true free market, if people raised their demand for gold as a result of a major upheaval, this would lift money’s purchasing power, and that would be about it; no further disruptions would emerge. The monetary system would remain intact. Also, as opposed to the present monetary system, money can’t disappear in a true free market and set in motion the menace of the boom-bust cycles.
>In fractional reserve banking, when money is repaid and the bank doesn’t renew the loan, money evaporates. Because the loan has originated out of nothing, it obviously couldn’t have had an owner. In a free market, in contrast, when the gold is repaid, it is passed back to the original lender; the money stock stays intact.
>Conclusion
>Since the present monetary system is fundamentally unstable, there cannot be a"correct" money supply rate of growth. Whether the central bank injects money in accordance with economic activity or fixes the rate of growth, it further destabilizes the system. The only way to make the system truly stable is to permit the free market to take over.
>In a truly free market, there is no need to be concerned with the issue of the"correct" rate of money supply growth. No institution is required to regulate the supply of money in a free market. Furthermore, while the free-market money is associated with rising real wealth, the present monetary system is inherently inflationary and leads to economic impoverishment.
>Scheint alles korrekt.
>Der gesamte Artikel: HIER

Ich bin zwar nicht Dottore, aber ich habe trotzdem dazu etwas zu sagen.
Gruss Oldy

This is what Ludwig von Mises writes:

In a true free market, if people raised their demand for gold as a result of a major upheaval, this would lift money’s purchasing power, and that would be about it; no further disruptions would emerge. The monetary system would remain intact. Also, as opposed to the present monetary system, money can’t disappear in a true free market and set in motion the menace of the boom-bust cycles.

and it is nonsense. What does it mean, when money’s purchasing power is lifted, dear professor of economics with no knowledge of business? The prices of goods sink and people would pull their money out of the market and exactly this brings the bust cycle in motion. The market depends on the money staying in it and it does disappear from the market whether it is free or not, when prices fall. Falling prices make business impossible. It happened so often in history that it is nearly impossible to believe that somebody cannot see this.
It is a fallacy to believe that falling prices will bring people to buy more. Exactly the opposite occurs. People will wait with purchases until prices fall still more. Traders cannot buy new stocks, when their old ones are not sold and they will be forced to lower prices still more.




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• Artikel zu Gold und Geld / dottores Meinung würde mich interessieren mL - JÃœKÃœ, 10.10.2001, 23:28
  • Re: Artikel zu Gold und Geld / dottores Meinung würde mich interessieren mL - Oldy, 11.10.2001, 01:17
    • Re: Artikel zu Gold und Geld / @OLDY - JüKü, 11.10.2001, 09:29
    • Re: Artikel zu Gold und Geld / dottores Meinung würde mich interessieren mL - Diogenes, 11.10.2001, 09:40
      • Re: Artikel zu Gold und Geld / dottores Meinung würde mich interessieren mL - Oldy, 11.10.2001, 18:28