The arguement against wind and solar

[macdon02]

If renewables can't provide a stable supply of electricity during darkness and calm on their own, how do we as a society maintain a monetary system that's entirely based on credit and plastic at present. Is physical cash still required in a renewable sourced energy supply? If paper cash is required why are we being punished through lower interest rates for preparing for outages? Should we be looking at gold and silver coins, and barter in a renewable environment?

[jazz]

This virus outbreak did us all a big favour. It showed how weak and fragile our system is depsite all the economists and experts opinions. Supply chains stretched, focused too heavily on a single authoritarian country, a very weak and volitile economic model backing it up.

Anyone that would choose to make that system even more fragile with renewables is a fool.

A lot of things died this week, globalization, travel, open immigration, green new dream, fiat etc. You will now see supply chains repatriated, energy, food and stables networks strengthened and eventually some reckoning for the monetary system.

[Austrian Economics]

Our monetary system is presently undergoing terminal failure. As I pointed out in another thread, debt in a fiat currency system can only grow exponentially. The system functions at all only so long as debtors can service their debt. Periodically, the debt load overwhelms them and the system begins to collapse as we see presently.

Only gold and silver can act as an extinguisher of debt. Under the gold standard, creditors loaned gold to debtors. When the debt was paid off, the gold was returned to the owner (redeemed) along with interest and the debt was extinguished. Then the gold could be redeployed to finance other productive ventures.

Fiat is a system in which debt is accumulated by parties who have neither the means nor the intent to repay. Fiat by its very nature cannot extinguish debt.

As a fundamental principle, debt must be settled by payment in a commodity. Gold evolved as final payment of debt because it is the most marketable commodity. You can pay off a very large debt with an amount of a commodity that would fit in your pocket. Fiat, by contrast, is the payment of one debt by creating another. Thus, it is not final payment in any rational sense.

[blackpowder]

Ever higher tax rates drives ever more of the economy underground.