Fundstücke

Fabio , München, Freitag, 15.10.2010, 12:26 (vor 5568 Tagen) @ moneymind

Hi Moneymind,

so richtig viel habe ich zur Praxis dieser "self liquidating real bills" nicht gefunden (hab dein PS auch gerade erst gesehen).

Hier zumindest mal ein Auszug, der beschreibt, was manche Austrians sagen:

"." But this was an attempt to fight pus with poison. As we now know, the cure was much worse than the disease. The boom/bust instability has not been diminished; it has been horribly exacerbated.

What most of today's pundits miss is that there are two forms of "fractional reserve banking." There is a benign form that springs up naturally in a free-market to extend short-term, self-liquidating credit. And there is a fraudulent form that is spawned by government intervention into the free-market to exempt bankers from the contractual laws of fraud, which allows them to "borrow short to loan long." This gives banks the ability to loan recklessly with impunity from bankruptcy. It is this latter form that needs to be outlawed.

Too many hard money advocates today fail to make this distinction. For example, Austrian School economists agree with outlawing the fraudulent form, but unfortunately they are also antagonistic toward the benign form. They maintain that the only way to establish a stable banking system is with a 100 percent gold dollar that prohibits "all bank lending in excess of capital accounts and vault cash." 1

According to Austrian economist, Murray Rothbard, the only permissible credit instruments would be those where "every dollar made available as purchasing power to the borrower would be the result of abstinence from the exercise of purchasing power on the part of the lender." 2

This would prohibit any form of credit that adds to the aggregate of purchasing media as represented by gold reserves -- even if the credit is short-term and self-liquidating, i.e., benign.

While Austrian economists are not of one mind on all issues, it appears that they are solidly in favor of a 100 percent gold reserve system. In other words, no credit should be allowed that increases the pool of purchasing power in excess of gold reserves, even temporarily. Only credit that "would be the transfer of purchasing power" should be allowed."

Aus: The Future of Gold As MoneyAn Analysis of Antal Fekete's Plan
for a Parallel Gold-Coin Standard

Ich hege durchaus Sympathien für die kursive Sicht, wobei ich gegen die "Real Bills" nix habe, daß ja da klar zwischen "Gold" und "Anspruch auf Gold" unterschieden wird und es ein Ausfallrisiko gibt. Meine das aber eher moralisch (normativ, sozusagen). Ich hielte es auch nicht für völlig impraktikabel, sondern vermute, daß es einfach eine zivilisatorische "Gewohnheitssache" wäre.
Unter Privatleuten läuft es ja so. Du kannst mir ja auch nur leihen, was Du gespart hast und kannst nicht darüber verfügen, wenn ich es gerade "ausgeliehen" habe.
Ich weiß, daß klingt sehr naiv, aber die debitistische Buchungsatzgeldsicht ist ja auch kein Naturgesetz, sondern das Ergebnis hierarchischer Entscheidungen und nicht spontaner Marktentwicklungen.

Viele Grüße

Fabio

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“We are on strike against the dogma that the pursuit of one’s happiness is evil. We are on strike against the doctrine that life is guilt." John Galt

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