Bob Interacts at Forbes.com with Adam Smith Institute's Tim Worstall

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Bob Interacts at Forbes.com with Adam Smith Institute's Tim Worstall


This is the show from Tuesday, August 18th, 2020


SUMMARY:


[Rerun while Bob recovers from a minor boating accident.] Bob Enyart interacts with a fellow from the UK's Adam Smith Institute, Tim Worstall, over at Forbes.com in the comments below Tim's great piece, Venezuela's Response To Inflation - Just Confiscate All The Money. Worstall quoted BEL's definition of money: “Money is the accounting of transferable incomplete transactions.” And then added, "That’s certainly one of the things that money is. And fiat money is indeed an efficient manner of doing that. But it still depends upon that suspension of disbelief for it to work that way." Bob replied, "Using fiat currency no more involves suspension of disbelief than does purchasing a portrait for more than the cost of the canvas and paint. " Bob began today's program talking about Trump's pick for Secretary of State, the activist who pushed homosexuality onto the boy scouts.


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