Fratricide Returns

Submitted by Bill St. Clair on Tue, 02 May 2006 09:38:15 GMT  <== Politics ==> 

Redmon Barbry has revived his "irregular microzine of immoderate opinion", including some back issues along with today's brand new release. Interesting short essays on current events. [clairefiles]

On the new $10 bill:

I am told that the purpose of all this slick stuff with the currency is the confounding of the counterfeiters. The idea is to employ such advanced technology in printing, in so readily identifiable a way, that counterfeiting will become impractical. No one has explained to me exactly what is accomplished by pushing the cost of printing a ten-dollar bill above ten dollars--for ourselves. Wouldn't it be easier, not to mention a lot cheaper, to strike a coin containing precious metals evaluating to ten dollars, no special technology required?

The latter is, of course, a simplicity that the government is incapable of grasping. If we want to confound the counterfeiters, let us begin with the U. S. Treasury Department, the greatest (by far) "counterfeiter" of all time, flooding the world with currency of steadily and deliberately declining value. Dollar-denominated securities have slipped ten-fold in fifty-odd years. This disgraceful performance has robbed almost every aging citizen of a significant fraction of his pension (if the thieves had not gotten to it first), without even the slightest moral excuse. To find out how this is justified, consult John Kenneth Galbraith on the subject of "monetary policy." (Oops, too late.)

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Real countries ...

Submitted by Anonymous on Wed, 24 May 2006 20:16:15 GMT

have green greenbacks.
Bill

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