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Posted by: tadair919 5 months, 3 weeks ago

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tadair9195 months, 3 weeks ago

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I'm glad you brought this up. This is a common myth. In response I have a few analogies.

This argument is kind of like saying "we cannot possibly measure the size of microbes because inches are too big." Well, not exactly. But I think you know what I mean.

Here is a good counter argument from Hoppe, which I hope sets the record straight for you:

"Once a money is established, any stock of money becomes compatible with any amount of employment and real income. There is never any need for more money since any amount will perform the same maximum extent of needed money work: that is, to provide a general medium of exchange and a means of economic calculation by entrepreneurs."

Or put in lay man's terms. In football, the game would not be played any differently if you got 60 points for a touchdown and 30 points for a field goal. Or .006 points and .003 points for that matter.

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  tadair9195 months, 3 weeks ago
  
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  The total amount of gold that has ever been mined is 142,000 tonnes. If half of that gold disappeared, it would still be viable to use as money, and prices of goods would simply adjust downward to fit the quantity of money.
  
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