Coin Clipping Before the Lifetime of Muhammad.

History is full of instances where gold and silver coins were “clipped” in an attempt to steal wealth from someone else. Since the monies adopted in markets worldwide were commodity monies they were valued based on the weight of the precious metal contained in the coin. If these coins were accepted on a visual basis instead of the more cumbersome weight basis theft could occur without detection.

When Muhammad came to usher in the age of nationhood the scale of this theft became much greater, potentially.

Had the Covenant of Muhammad not been broken then nationhood would have been the crowning glory of the next period of human history but since that Covenant was broken, instead of nationhood humankind was afflicted with nationalism. The ego-driven interpretation that broke the Covenant of Muhammad ‘laid in waiting’ until nations formed during this period of human history. Then it became the underlying driving force behind the emergence of the ideology of statism.

A naturally peaceful and voluntary means of cooperation was chronically undermined. Government increasingly became the State. The State also – by its perverse nature – undermines another naturally peaceful and voluntary means of cooperation – the market economy.

With great variation around the world the irrepressible tendency of nation-forming in this Age ushered in by Muhammad took many forms and patterns. But the seed of the ego-driven breaking of that Covenant germinated in each form of these man-made governments. The germinated seed of this weed – ego-driven interpretation – grew slowly or quickly into the State.

What fertilized the growth of this weed – the State – was ego-driven intervention into the economy. All intervention into the economy by the State extracts the wealth of the people to sustain and expand the growth of the State. As the State grows so does its perversity and its lust for wealth extraction.

In the 19th century coin-clipping took on a whole new dimension as the State succeeded in adopting fiat currencies. The ties to commodity monies were severed and with no weight basis to expose the theft it became almost impossible for people to detect the theft.

The ego-driven interventionists have this powerful tool to fuel all the rest of its ego-driven intervention and to spread the ideology of statism, passing it off as ‘education’.

Two things that the ego-driven do not and cannot control: the all-powerful equilibrium forces of the economy; and the end of the Age of nationhood!

Contact me if you are interested in the art and science of economics.

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2 thoughts on “Coin Clipping Before the Lifetime of Muhammad.

  1. Thanks for this blog post; I really enjoyed it and am definitely recommending this blog to my friends and family. I’m a 16 year old with a blog on finance and economics at shreysfinanceblog.com, and would really appreciate it if you could read and comment on some of my articles, and perhaps follow, reblog and share some of my posts on social media. Thanks again for this fantastic post.

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