The Humble Libertarian

Building a small army to take over the world and... leave everybody alone.


Saturday, March 24, 2012

Liquid Tide: Black Market Money

Who would have thought that liquid Tide, the laundry detergent, is a sought after item to steal.
Around the USA, thieves are stealing bottles of liquid Tide. I did a Google search for these three words: liquid Tide theft. I got a lot of hits. The thieves could steal anything. Why are they stealing Tide? Because Tide functions as a black market currency. To function as currency, a commodity needs the following: 1. Wide demand 2. Recognizable 3. Transportable 4. Durable 5. Divisible 6. High value in relation to volume and weight Tide qualifies on all six.It is weakest in #6. But it has a high enough value to be worth stealing. People will develop alternative currencies when the economy gets tight. These currencies are not taxable. Profits are not taxable. If people are looking for an item to store for preserving long-term value, Tide would be a good candidate. Gold is better, but Tide is good.
Read the rest here
LewRockwell.com