The next day, the relationships may change if product y is more in demand than x, but the absolutely perfect symmetry relationships between all the different "objects" of an economy remain the same at all times.
Based on this principle, we found that for an electric power producer what is constant is not the price of Gold, US dollars, or any other unit of money in which to measure its production, but the process of converting input fuels into electricity. Similarly, for a corn farmer, the basic measure would be his ability to grow corn, or make shoes for a shoemaker etc. Thus the basic unit of wealth is really the time and energy that is spent on activities. Everything else is simply a derivation of this most fundamental unit of wealth measurement.
How does all this apply to Gold standard or fiat currency standard or any other standard? Well, in reality there are already millions of standards in existence: a corn farmer measures his wealth in his ability to grow corn, a shoemaker in his ability to make shoes, an electric power producer in his conversion process of fuels into electricity. Where an "official" standard comes in is the mandatory conversion unit for converting the values, and for the purpose of facilitating the exchange. But clearly this "official" standard, be it Gold or US Dollar, is not really necessary for an economy to function (corn farmer could buy shoes for corn and not necessarily have to exchange it for the "official" money first); it merely mandates the means to facilitate the exchange.
The symmetry relationship harmonies perfectly with Austrian thinking about how money works, and completely invalidates Keynesian thinking. Moreover, Keynesian thinking, assuming that there is really a fundamental perfect symmetry between various different economic "objects", really becomes a crazy pseudo-science, nothing more than a shamanic ritual or voodoo. It's absurd that we have come to this that voodoo-masters are claimed to be heroes who are supposedly saving the world! Can things possibly get any more surreal?
However, the symmetry relationship still holds even when considering Keynesian policies. Throwing money from helicopters will by definition result in inflation for the symmetry relationship to hold, while enriching those nearer to the monetary injection point and impoverishing those further away. And this is clearly criminal, not voodoo. So either:
- Central bankers of the world are ignorant voodoo-masters believing that they have "higher powers" that are above the laws of nature such as mathematics that apply to mere mortals. These "higher powers" qualify them for their high positions. They also clearly believe that human sacrifices (impoverishing masses of people to enrich themselves and buddies) are necessary for "world order" to remain stable, making their behavior criminal in the eyes of everyone else besides other voodoo-masters and blind believers.
- Or they are knowingly working on enriching themselves and their buddies by robbing the rest of the society, making them criminals again.
What is really interesting and fascinating are alternative currencies such as Bitcoin or banking such as Peer to Peer Lending coming around. Perhaps official monetary standards, banking and central banking will simply cease to exist when people get tired of their inherent criminality and start searching and moving to new solutions en masse? Actually it seems that people are essentially driven to those new solutions by established solutions becoming increasingly unreliable and criminal.
