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deleted
84 Posts |
 Posted - 05/11/2008 : 22:05:33
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(cross-posting this so no one misses it 
OK, he didn't actually predict hoarding, but he confirms an opinion that inflation will eventually make the metal worth more than one cent:
My 2nd favorite economist of all time, Dr. Murray Rothbard, was a great sound-money advocate/anti-inflationist, and a great individualist/subjectivist economist and historian to boot.
I just listened to a recording of a talk he gave in 1970. The talk was a critique of Milton Friedman. In the Q & A, someone asks him if he thinks the government will demonetize/confiscate silver as it did gold. The questioner actually predicts that the metal value of the penny will eventually exceed one cent, and Rothbard confirms it.
Check out the audio file:
You must be logged in to see this link.
The question begins at about 65:40 into the recording.
If you're not familiar with Rothbard, I highly recommend his short book, What Has Government Done to Our Money?
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"Truth is treason in the empire of lies." -Ron Paul, from _The Revolution: A Manifesto_ |
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Loophole29
Penny Sorter Member
78 Posts |
Posted - 05/11/2008 : 22:23:19
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| Very interesting... |
Sorting in Jersey |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/13/2008 : 19:59:43
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| I was hoarding boxes of pennies prior to 1983. I had about $750 then but my brother ripped them off and I never replaced them. |
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Rothbard predicted penny hoarding in 1970
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