Aaron Clarey's post about Liberals and Leftists not using math shows mental problems and LTE of Eugene, Weekly I found interesting, libertarianism defending fiat?

HISTORY OF BANKING

President Andrew Jackson was the only president in 1836 under which the U.S. was able to pay all the national debt. It did so because it cut borrowing from banks, money to be used for our commerce; instead it printed government-issued cash so that Americans would have money to do their transactions and controlled only the quantity in circulation.

The Constitution has a major flaw: It allows Congress to borrow money (at interest) but it doesn’t say that Congress can print fiat money with interests to no one. This is slavery.

Paper is cheap and the technology to make bills non-counterfeitable is easy enough.

King Edward of England did good with wooden “tally sticks” and his country prospered.

Back and forth went the battle between private banks, which wanted to practice usury with the whole world’s countries and loyal nationalists, which believed that their money should come interest free.

Because of Fractional Reserve Banking, banks can lend out and receive interest on more cash than they themselves possess.

Rome, too, was the greatest empire of its day by issuing (cheap) copper or brass fiat coins to its people. This prosperity lasted many centuries until Caesar decided to issue gold coins with his profile on them. This impoverished the people and caused wealth inequality with the goldsmiths and bankers winning. The Roman Empire went downhill after that.

Let’s stop feeding the 3,000 private banks called the Fed and their accomplice the IRS.

David Ivan Piccioni, Eugene

      The above letter by David Ivan Piccioni is one I found rather interesting because a number of 'hands off' and libertarianish letters have been getting into the Eugene Weekly.  The Eugene Weekly isn't terrible to libertarians because of Chomsky but they aren't kind and present libertarian ideology from a solidly marxist economics standard.  That reads funny. I felt that his insistence on the use of paper notes by 'public banks' maybe he means something like Bundesbanks of German tradition....I'm not familiar with their stability and how Federal banking structure in Germany ties to the Bundesbank.  Max Keiser reports a lot on this and seems to like the fundamental concept of the Bundesbank but also has reported that they have considerable risks dependent upon the honest markets and good business practices of higher tiers of the economic system.....nein gut...they've had to bankrupt nations to deal with their risks.  I with my minarchist nationalist streak that always kept me a bit at odds with parts of the Left because of their requirement for peace at all costs in every situation except the ones they legislate proxy violence as the resolving agent.  'State banks' are the one I still consider, Federal hard assets distributed among State banks and that is used as the basis, plus lands to restart our economy until the bank can be broken up into small private banks that have purchased the hard assets and land.  If the State of Oregon, had a 'seed bank', hard assets, and gained all the Federal and BLM land for sale....the State could get into it's own digital currency....States could sell bandwith within a State....but, as a corporation it would have to compete, plain and simple....oh well, now my mind is wandering. Cheers, Captain Capitalism....read him, his writing is good, mine is not.