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Thursday, 15 January 2009

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The argument that got me decades ago was essentially that all monies or mediums of exchange were prey to manipulation (debasement usually) by their controllers - mostly governments. However, when we can choose to use a range of monies, bad monies will experience negative selection pressures (in practice good money drives out bad, contray to the saying). So we need diverse currencies. I'd go so far as to allow banks (or anyone else) to issue their own currencies and get governments out of that business altogether. A free market in money!

The euro is the opposite of that Hayekian idea. So fuck that. Up with eco diversity, down with mono cultures.

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