The Lemon Fool

Alaric wrote:

NeilW wrote:When the country needs to deploy its real resources to defend itself suddenly the issue of money disappears.

Not totally. The UK would have been unable to continue in 1917 and 1940 had American credit not been available. The USA pulled out the financial support plug to stop the 1956 Suez intervention.

Much earlier the Stuart kings were always running out of money to fight wars in the 1600s, whilst the opposition to Napoleon elsewhere in Europe was only kept going by UK financial support.

That again is a misconception - much the same as the usual tropes about Zimbabwe.

You can command your own resources indefinitely. It's when you want somebody else's resources you have to exchange something you have for something they have.

But you cannot run out of something you create and can enforceable require other people to obtain to give to you.

So you are saying you can't run out of "currency". But you can run out of "value". And the more value you send abroad, the less remains in your own country. And Zimbabwe is indeed the classic example of this. So little "value" remains in their country that the currency has become worthless.

Capital flight, particularly from Greece in a transferable currency like the euro, is also a clear example of "value" being transferred out.

And here's your problem for NHS, teachers etc. They all want paying in something of value, not just currency.

Gryff

[quote="gryffron"And Zimbabwe is indeed the classic example of this[/quote]

The number of people who quote Zimbabwe without actually bothering understanding what went on has lead to this

http://www.3spoken.co.uk/2010/09/godwins-law-economic-collary.html

The number of people who quote Zimbabwe without actually bothering understanding what went on

When you have no argument... attack the poster!

I see no major flaw in gryffon's argument and you've been peddling your fallacies about limitless money without explanation for long enough now [not that I disagree entirely, mind].


How about answering gryffon's points logically instead of insulting his intelligence?


GS