Monetary System/Economics Part 3: What Is Wealth?


The true measure of a civilization is the piecemeal accumulation of wealth that can only occur when peaceful individuals are able to trade and interact unhampered. Currency and money are not wealth. They are the conduits through which true wealth can be accessed and acquired. A pile of gold coins on a desert island is useless because they cannot buy anything of value. When there is nobody to trade with money becomes useless. Their function is apparent only when entrepreneurs create and innovate wondrous things that lift us out of poverty and raise the standard the living of humanity in very real ways. Take away the currency or money and people will use something else to trade in.


In order to destroy wealth one must destroy factories, medical technology, industrial machines, combine harvesters, tractors, excavators, 18 wheeler trucks, trains,  cargo ships, cars, computers, smart phones, houses, electricity, indoor plumbing etc. Do that and you will plunge humanity into a most abysmal and wretched dark age that no wanton conquerer in history has been able to achieve. The painful reduction in the standards of living of billions of people will be acutely felt as lifestyles become downgraded to that of the common folk of centuries past.

Technology is a tool that humanity has marvelously wielded to attain unprecedented levels of prosperity and comfort. It is the application of the faculties of logical deduction, critical analysis, creativity, and imagination that has placed human beings far above his animal brethren. The knowledge and wisdom procured by our forefathers is the most valuable treasure we have inherited. May your existence add to the heirloom wealth we pass on to our progeny.



I do not know what I may appear to the world, but to myself I seem to have been only like a boy playing on the sea-shore, and diverting myself in now and then finding a smoother pebble or a prettier shell than ordinary, whilst the great ocean of truth lay all undiscovered before me.

Isaac Newton, physicist and mathematician

Monetary System/Economics Part 1: Currency vs Money


Understanding the difference between currency vs. money is fundamental to understanding economics. Currency must possess some attributes such as being portable, divisible, fungible, durable, a unit of account, and a medium of exchange. Over the millennia many different substances have been currency such as salt, sugar, spices, wheat, rice, copper, precious stones and gems, nails, cows, spears, axes, exotic bird feathers, beads, certain rocks, shells, lumber, stamps, candy etc. They have all come and gone for various reasons. The market always tends towards more efficient means of currency. This is reverse Gresham’s Law, which stipulates that in a Free Market good money will drive out bad currency. When people are free to choose which currency to transact in, the best and most efficient methods will always rise to the top.

What is natural currency vs. artificial currency? Artificial currency is that which is chosen by the State and mandated by edict and legislation. It is often entirely controlled and manipulated by the State regarding quantity, value, interest rates, borrowing, creation. This complete control of the currency supply is vital to have intimate access to the inner machinations of the market economy. In this way even some individuals and businesses who refuse to pay their tithes AKA taxes or who hide their currency from the State can forcefully have their value extracted via the hidden tax of inflation. This is the pernicious power the State maintains through having a monopoly on currency.

Natural currency is that which is chosen by free and peaceful people to interact in. It is chosen because it has been demonstrated to be of superior value as compared with currencies of the past. The value of currency is its ability to lubricate transactions and facilitate trade. When it no longer effectively serves this function it must and will be summarily abandoned and replaced with a better alternative.

Through this natural market selection of currencies over the millennia, gold and silver have risen to the top in consistently satisfying these criteria. Therefore it has rightfully attained the glorious status of money, which has the additional attribute of being a store of value over long periods of time. Gold and silver are the impenetrable shields used by wise investors to protect their wealth from being plundered by political predators and thieving nation States. This is why they are the enemy of the State. This is why pure gold and silver has always been reserved for the god kings and pharaohs of antiquity and the people have been given toilet paper trash fiat currency to trade in. When currency and money are profoundly understood by the people the violent Statist paradigm will have been largely defanged and disarmed. Do not be afraid of money. It’s power lies at the very kernel of civilization.


Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.

Norm Franz

What Is Money? Is It Immoral?

Fiat Money vs. Real Money

“What is money? Is it immoral?”


First of all there must be a clear distinction between currency vs. money. Currency is something that is portable, durable, divisible, fungible, medium of exchange, and a unit of account. Historically many things have been used as currency such as cows, sea shells, beads, exotic bird feathers, spices, sugar, salt, copper, cigarettes, lumber, nails, stamps, candy etc. They have all come and gone for various reasons such as lack of coincidence of wants, lack of common measure of value, lack of standard of deferred payment, difficulty in storing wealth, and indivisibility of goods. This is an extended topic in itself.


Money contains all these characteristics plus being a store of value over a long period of time. This singularly significant attribute is what catapults money light years ahead of currency. Over thousands of years of voluntary consensual trade, gold and silver have emerged as superbly suited. They have been chosen through the natural selection of the market as the preferred commodity to facilitate trade. This function has been served splendidly until agents the State took control of it, thereby subverting these most enviable characteristics and perverting them to fulfill the wicked desires of those in power.



Second of all a clear distinction must be made between forced vs. natural currency. Forced currency is that which occurs by State decree or legislative mandate. It is the most horrid of all forms of currency as it exists only to serve its master, the State. Natural currency is chosen by free people to trade in but which is eventually abandoned due to its inability to satisfy all the needs of a successful currency.


Money is simply a tool to facilitate trade. It easily transfers value from one party to another for the purposes of a transaction. It is one of the most useful and beneficial of all human inventions. It’s existence should be celebrated not maligned.


Just do good things

Connor Boyack: The Tuttle Twins Learn About The Creature From Jekyll Island and The Food Truck

Please enjoy my recent conversation with Connor Boyack. Herein we discuss why he started the Tuttle Twins series, a synopsis of Tuttle Twins Learn About The Creature From Jekyll Island, central banking, monetary system, inflation, the elderly often trust the monetary authorities, the power of propaganda, few people have an opinion on the monetary system, dissecting a Federal Reserve Note, deschooling adults, printing currency produces wealth fallacy, a synopsis of Tuttle Twins and The Food Truck Fiasco, food trucks steal customers fallacy, competition encourages innovation, economic protectionism and more!

Jeffrey Tucker: Voluntaryist, Bitcoin advocate, and Founder of

Please enjoy my recent conversation with Jeffrey Tucker. Herein we discussed how he met Lawrence Reed, what is, what is Bitcoin, history of Bitcoin, learning about Bitcoin through lamestream news, is Bitcoin hackable, Bitcoin doesn’t exist argument, intrinsic value, characteristics of money vs. currency and more!





Anarchy is all around us. Without it, our world would fall apart. All progress is due to it. All order extends from it. All blessed things that rise above the state of nature are owned to it. The human race thrives only because of the lack of control, not because of it. I’m saying that we need ever more absence of control to make the world a more beautiful place. It is a paradox that we must forever explain.

Jeffrey Tucker