@solex
I love you all, but you are all wrong
> I don't think that it helps to mix the concept of products with money.
I speak about cause and effect. Without debt (to the state) there is no private debt and therefore no production growth and no economy. There is self-sufficiency.
> Fundamentally, only products can buy products, and in practice this is barter.
No. Only debt/credit can buy products. In the rain forest where the state and debt is absent, there is zero production growth, even 10'000 years after the neolithic revolution. There is no economy and no market, because without debt, state and church there is no 'motivation' to produce surplus. They produce the same amount as they did 10'000 years ago.
> It is flawed because of the coincidence of wants. Two parties both need each other's product to want to make a transaction. This is fine only in Neolithic society with few products, so it's no coincidence that coinage first appeared in early cities with lots of products.
Transactions are made because of the debt to TPTB. People are forced to transact with aliens to generate surplus, which is taxed.
> Money substitutes for products in transactions, and because a product is evidence of work, then money must be as well. Equity money evidences past work, e.g. gold & silver being mined, and Bitcoin with hashing PoW. Debt money evidences hypothetical or future work, especially in the case of government fiat, money backed by the ability to tax future production.
Debt comes always before production. Bronze, Silver, Gold has been mined because the war lords (church and state) demanded that metal as the tribute/tax.
> The cancer on a productive economy is never equity money, which is a valid substitute for products, but debt money which is promised into existence in excessive quantities via Central Bank backed FRB or government printing presses.
Surplus production (economy/society) is cancer per se. What else should it be? It means destruction of the planet with exponentially growing speed. That's the difference to the community. The community represents health, the society represents cancer.
> Debt-money creates homo oeconomicus as value is bled from the productive economy through perpetual debt-money creation as this new money is first used by the elite (government, oligarchy, banks) when it has full value before the wider economy adjusts to its inflationary impact and it is then spent by the public when it has diminished value.
Debt money is a tautology. Money is debt and commodities are commodities. Whether debt is linked and pegged to metals, grain, or to property and deposits of any kind as in the modern world, doesn't make a big difference to me.
I know, the mainstream schools (austrian, keynesian, neoclassic etc.) all teach the barter story. But it's theology, science fiction. The foundation of the economy is Debt and Organized Violence, and nothing else.
BTW, Dr. Paul C. Martin has been an Austrian, until he did some research.
