Writing and researching this thread 👇 on history' most dramatic Easter crime rewarded me with understanding another important piece of the monetary policy puzzle.
Read on, and you soon see what I mean. My journey can now be summed up in this way:
1.
When I wrote Fraudcoin I realized that monetary policy is about manipulating the money supply with
- inflation,
- deflation, and
- channelization
of the stock of money.
2.
Before I wrote UNBAR I had realized that in principle we only have two different types of monetary systems, something which became the backbone of this book No. 2 on money from me.
These systems were:
- monetary freedom, and
- monetary monopoly
However, I still thought that monetary monopoly mainly would be abused with inflation, deflation and channelization of the money supply.
3.
And then, today I realized that the problem is monopoly itself, even if the monopolist doesn't inflate, deflate or channelize the money supply.
No - the monopolist can and will use his monopoly to set up a virtual wall between people who just want to interact with each other in a cooperative manner.
The monopolist then abuses his monopoly by charging a monopoly price for his money.
Since this is a monopoly that in reality takes control over the most powerful social network that humankind has seen, the monetary system, it will in itself constitute a massive instrument for wealth extraction and concentration of political power.
Read it and pls. share your thoughts with us.