| Subject: | [socialcredit] more on the State Theory | | Date: | Tuesday, May 15, 2007 15:00:48 (-0700) | | From: | william_b_ryan <william_b_ryan @.....com>
|
On May 15, 4:23 pm, "The Trucker" <mik...@verizon.net>
wrote:
"There is little but taxation and the force of the USA
in insisting that dollars must be used to buy oil that
gives the US dollar any value at all."
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Dollars have value because sellers will accept them
when tendered for what they are selling. By "dollars"
we mean deposits denominated in dollars that are
created by commercial banks when they grant loans.
Taxation is the analogue to sales by a commercial
enterprise.
A firm with little prospect for sales would have
little credit with the commercial banks.
The same is true for governments with little prospect
for tax collections.
Where is your evidence that the government of the USA
"insists" that dollars must be used to buy oil?
Isn't it rather due to the fact that the domestic
product of the USA is very nearly greater than all the
rest of the world's economies combined?*
It is the domestic product of the USA that gives value
to its dollar in international transactions.
-
* I know this is an exageration but you see the point.
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more on the State 
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