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April 26, 2003

Rapper's against the gold standard

Read the lyrics for the new Nas single "I Can" and you'll see he opposes the gold standard.... (cool to hear wholesome stuff from a rapper, but the Afrocentric junk is kind of kooky)

Update: Anyone else notice the Christinization of modern rock??? This group Evanescence claims it's not Christian but check out the lyrics for "Bring Me to Life." Their album is titled "Fallen." Here are some lyric samples from "Bring Me to Life":

wake me up inside
wake me up inside
call my name and save me from the dark
bid my blood to run
before i come undone
save me from the nothing i've become
bring me to life

Is that inspirational or what? Once upon a time Rock 'n' Roll was perverted & debauched music but now groups like Creed are bringing a more spiritual sound into the mix. They must hose off kids in the mosh pit with Holy Water now.

Posted by razib at 04:23 AM

Hey, there's nothing wholesome about opposing the gold standard.

Posted by: Otto Kerner at April 26, 2003 08:12 AM

Oh boy! Another comments war! What is the connection between the Gold Standard, IQ, and Race?

Posted by: Dick Thompson at April 26, 2003 08:18 AM

You SHALL NOT crucify mankind upon a cross of gold!

Posted by: David at April 26, 2003 10:50 AM

evanescence is not a christian band, as they have said, and they have been pulled from christian radio. however, the song with the most christian theme is "torniquet".

creed has also said they are not a christian band. but there is an obvious christian tone in "my own prison".

as far as i know, newsboys is the most popular christian rock band.

Posted by: jody at April 26, 2003 11:28 AM

Go read Alan Greenspan's essay in the collection 'Capitalism: The Unknown Ideal'. Bring back the gold standard!

Posted by: Jason Soon at April 26, 2003 02:52 PM

Of course, If you took Alan Greenspan's advice in that essay seriously (which thank God no one does), you'd have to abolish the Fed...

Posted by: jimbo at April 26, 2003 03:39 PM

"Christian rock" is an oxymoron.

Posted by: Jason Malloy at April 26, 2003 05:24 PM

Abolish the Fed!

Posted by: David at April 26, 2003 06:40 PM

abolishing the fed or central banking in general in the absence of other institutional alternatives seems a scary thought. but not if the regulatory system is designed to facilitated a 'free banking' framework whereby private parties compete to issue their own currency using gold as a peg (I recall this is what Greenspan envisages if not in that particular essay, in others). is the fed necessary? this is premised on the idea that we need macroeconomic intervention to prevent the start of business cycles. but assuming business cycles are natural to capitalism is macroeconomic intervention the least worst alternative or does it in fact aggravate the situation. The Austrians certainly think so, and I tend towards the argument made by Lealand Yeager that macroeconomic instability is probably inevitable because of the inevitability of monetary disequilibrium (I may have to do a longer post to explain this properly) but that macro management to the extent that it achieves any improvment can only do so by policies which as a proxy attempt to restore monetary equilibrium. it may be that the tatonnement process of the market with competing currencies may lead to less aggravation.

Posted by: Jason Soon at April 26, 2003 07:39 PM

Growing up I was a Christian largely because my mother was (and still is) a true believer. I then went through a phase of rabid anti-christianity, and have since tried to make peace with the religion although I have no intention of returning to the flock.

In the (episcopalian) church that I went to as a child the choir sang a lot of anthems which were extremely musical but I wonder if the tone was really spiritual. Likewise, hymns with triumphalist messages (e.g. 'Onward Christian soldiers, marching as to war/with the cross of Jesus going on before!) were sung baudily. In a spiritual environment, I would much prefer to hear music intended to induce meditative calm like gregorian chants for instance. I don't really know the history of Christianity but it seems that since the advent of protestatism it has increasingly headed in the direction of the vulgar. Also, many present-day demoninations actively scorn ritual which is a terrible mistake since ritual is a form of meditation. A few years ago I attended a fundamentalist Christian service (not as a believer). Most of the service consisted of bad music sung in unison. The worshipers also put their hands outwards and swayed a little bit. The sermon was a motivational speech devoid of spiritual content.

Posted by: Sporon at April 26, 2003 09:27 PM

I should have put this all in a single comment but I just thought of something else to say. Christianity is a universal religion (like Buddhism), which means that it will accept anyone into "the flock" regardless of race/nationality, but, unlike Buddhism, Christianity has an easily digestable crede which appeals to the vulgar and the ignorant. Notice that Buddhism has *no* appeal in the inner city, whereas variants of Christianity and Islam flourish. By attracting the vulgar, Christianity becomes vulgarised.

Posted by: Sporon at April 26, 2003 09:58 PM

jason -

I myself am a partisan of the post-Keynsian school, which (properly) sees gold as a "barbarous relic". They agree with the Austrians that instability is endemic to the system, but recommend countercyclical macroeconomics policies (including deficit spending and progressive taxation) to dampen the swings. IMO, they are the only people who have a real grasp of what money IS, where it comes from, and what the real functions of a central bank are. For more info, here's a good article by William Vickrey, who won the the Nobel in 1996:


Posted by: jimbo at April 29, 2003 01:17 PM