Replying to Avatar Martialis

Fractional reserve banking and compound interest are the twin evils of our financial system but, while you need to move away from sound money to enable such criminality, the problem is primarily one of human corruption rather than the money supply so weeding it out will sadly require something a good deal more ruthless than libertarianism.
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Low Information Voter 1y ago

Thats certainly one approach, but I feel people greatly underestimate how much large-scale criminality depends on the State for collection.

I think local courts (howsoever constituted) should apply the Common Law maxim "ex turpi causa non oritur actio" (from a disgraceful cause no legal action shall arise") and reject plaintiffs seeking to recover debts owed for gambling, usury or fractional reserve lending.

This wouldn't abolish such vices, of course, but it would render such businesses small, clandestine and unpopular.

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Martialis 1y ago

Good point - it certainly depends on some form of cartel which holds a monopoly on violence. This is why I tend toward distributism and subsidiarity economically and monarchy politically.

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Low Information Voter 1y ago

A monarch needs gravitas, so I won't support any claimant smaller than a mountain range.

Small monarchs accumulate favourites and flatterers.

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Martialis 1y ago

I was always taken with Tolkein's description of a monarch who spent his days fussing over his collection of fine ceramics and serves no other purpose but to occupy the role of sovereign and prevent other, darker forces from assuming it. I'm not sure how that would play out these days now that we have the surveillance state, but Europe seemed to be onto something in the high middle ages, during that brief period between the end of feudalism and the beginnings of humanism.

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Low Information Voter 1y ago

Ludwig II Wittelsbach is my favourite of that era.

But really, it sucked. Bureaucratic/Military oligarchy with a royal figurehead.

Original-flavour feudalism was better.

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Martialis 1y ago

Ludwig was very much at the tail end, and possibly even the last gasp of that system. Still, props to the man for his castles and for paying Wagner's bills.