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Get rid of the money system, then get rid of goverrments

 
Anonymous Coward
User ID: 590644
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06/06/2010 05:37 PM
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Re: Get rid of the money system, then get rid of goverrments
Credit is not the problem; it is incorrect bookkeeping that fails to assign the seigniorage to all of the people who actually give value to the hypothecation of the credit.

Interest on the other hand has been condemned by religions and widely recognized as a serious problem.

[quote=Levi Philos]Interest bearing hypothecated debt as the model for a monetary system grows the total debt in an exponential manner until the basic economy can no longer make the interest payments much less pay off the principle. Thereafter we enter a Kondratieff write-off of debt.
 Quoting: Anonymous Coward 590644


A German businessman supplied a solution (partial) and wrote a book about it that came out ~1919. Silvio Gesell.

[link to www.systemfehler.de]
and [link to userpage.fu-berlin.de]


Correction made; let's see how it takes...
Levi Philos
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06/06/2010 05:41 PM
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Re: Get rid of the money system, then get rid of goverrments
Uttering Money and other Absurdities

Investigate the Dror Goldberg 2007 paper titled "THE MYTHS OF FIAT MONEY"

This paper may be found in several locations among which are:

[link to muse.jhu.edu]

[link to econweb.tamu.edu]

It is my position that two inter-related concepts keep people trapped on the same merry-go-round.

The first concept is that money is a *thing* and the second concept is that money is a natural monopoly.

This two faceted inter-relationship ignores evidence through history that does support my thesis that money is a communication.

In the Goldberg paper we find some discussion of the stone donut money of Yapp. However, Goldberg never mentions Kocherlakota [link to minneapolisfed.org] who would point out the mnemonic usage of the stone donuts. In fact, the actual money of the people of Yapp is an oral recitation of favors given and favors received while the stone donut (which often times never is moved in location) serves only as a reference. (Mnemonic function)

When the thesis is accepted that money is a communication, then the absurdity of laws against "uttering money" becomes obvious. If people have a natural right of freedom of speech and freedom of contract, then "uttering money" is but a simple extension of those two natural rights.

I do not deny that silver may be used in coinage form as transmitters of value nor gold in the same fashion; my claim is simply "Why stop there?" My claim is that paper claims of title may be transmitted as bearer titles (warehouse receipts) on any product or commodity already in existence. My claim is that any contract to create and deliver value as described in the contract can become money by assignment to the bearer. My claim is that the Ithaca Hour is equally as valid as a money as the federal reserve note.

Hayek nailed it. If you want stability in money formats, you must allow competition.
Anonymous Coward
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06/06/2010 06:00 PM
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Re: Get rid of the money system, then get rid of goverrments
Josef Hasslberger: [link to www.hasslberger.com]

Andreas Ruetten: [link to ourworld.compuserve.com]

This one is all in German: [link to www.inwo.de]
As is the System Fehler forum: [link to f23.parsimony.net]
Anonymous Coward
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06/06/2010 08:14 PM
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Re: Get rid of the money system, then get rid of goverrments
Yet, it's simple to see when you have a ten dollar debt--much less a 12 trillion dollars debt--that the world's resources has nothing to do with money, gold, or anything else--it's land,freedom,security, labor, peace, and the willingness to share.

That's what the real wealth is.

Most children do though neener2
 Quoting: Anonymous Coward 631208


well said.
Levi Philos
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06/06/2010 09:21 PM
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Re: Get rid of the money system, then get rid of goverrments
Creating algorithms for constant value has been a recurrent theme in economics; the first to my knowledge was proposed about 1890 by Walter Baghot (or Bagehot), and in the thirties depression Irving Fisher produced a number of papers proposing the indexing of a gold dollar to a market basket of commodities.

The United Nations has also funded some studies where the topic is "Purchasing Power Parity" or PPP for short. Similarly, studies where the productivity of nations has been compared in regards to market basket of commodities per man hour.

This can vary widely due to their capital investments in machinery and electricity.
Anonymous Coward
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06/06/2010 09:41 PM
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Re: Get rid of the money system, then get rid of goverrments
The May scale of money "hardness" is a subjective assessment according to Mr May: [link to interestingsoftware.com]

Couple of interesting essays associated with this page.
Anonymous Coward
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06/06/2010 09:44 PM
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Re: Get rid of the money system, then get rid of goverrments
Any math solution should not be too complicated.

The 'tranches' and stuff of sliced up mortgages were created by mathtastic assheads.

I have told what will be: Iron rods. Get used to it.
Anonymous Coward
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06/06/2010 11:28 PM
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Re: Get rid of the money system, then get rid of goverrments
spock
Anonymous Coward
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06/07/2010 12:43 AM
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Re: Get rid of the money system, then get rid of goverrments
Not the money system.
Get rid of the usuary banking systems.
Then get rid of politicians,
not the Constitution.
Magnus Grievous

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06/07/2010 01:12 AM

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Re: Get rid of the money system, then get rid of goverrments
OMG!!! 4 and a half stars for a NWO shill on GLP.
The most amusing is the self proclaimed NWO fighter who applauds at eliminating money and governments. The Illuminati are playing on your emotions like Charlie Daniels on a fiddle. The whole endgame is to create anarchy and riots and calls for reform and raise the people up in order to eliminate all governments and replace them with a more "fair" system- one that respects all things as equal- deflating the value of human life in the process and inflating those things that have no soul. Oh and they will replace all the money as well, with the mark of the beast so don't worry about that
The ones in power (the elite) are just being used as pawns to get to YOU!! Look, evil never announces itself as "Hey everyone I am evil choose me." It first suggests itself as a attractive alternative to a bad system. By the time you realize the true intent you are like a boat heading over the falls... by then it is to late to turn back.

Wanna see the real NWO ... start by looking in the mirror because you are the "Prize" at the end of the day.

Sorry for the emotion. I do so with respect to all.
D-
"When you come to behead me, be careful not to bruise the face."
Levi Philos
User ID: 590644
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06/07/2010 08:32 AM
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Re: Get rid of the money system, then get rid of goverrments
Confessions of an Economic Hitman - John Perkins.

A 53:35 minute interview: [link to www.youtube.com]

A "must watch" so as to gain understanding how the hoax is imposed upon third world nations.
Levi Philos
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06/07/2010 03:22 PM
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Re: Get rid of the money system, then get rid of goverrments
Freedom can only be purchased with a decentralized open source medium of exchange where the producers of value participate in the creation of the symbols by which that value is exchanged in proxy, and the banker serves in an agency role to producers of value.

That is to say additionally, that people who really want to control (all) other people will be drawn to the money lever; furthermore, that this drive to control is universal among humans and therefore the only viable solution is to decentralize the money system so that local people are watching local boards. Even then there will be corruption, but damage will be localized rather than globalized.

Levi Philos
Levi Philos
User ID: 590644
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06/07/2010 11:29 PM
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Re: Get rid of the money system, then get rid of goverrments
Commerce Gold - Features

Immediate payment no waiting for checks to clear or credits to be made.

Low fees lower than credit cards or competing payment services.

No chargebacks "Get paid, stay paid" unlike credit card payments.

Easy Click To Pay gateway allows anyone to accept c-gold on their web site.

Earn c-gold, just by referring others to use it.

Secure, user friendly access to your account.

Get and use c-gold at these exchangers and merchants.

Discuss c-gold with users and get answers from the c-gold team.

[link to c-gold.com (secure)]

I have no personal interest here, but the founder has a good reputation.
goodgirl

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06/07/2010 11:40 PM
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Re: Get rid of the money system, then get rid of goverrments
Let's get rid of the government first.
===============
We must not let our rulers load us with perpetual debt. We must make our election between economy and liberty or profusion and servitude. If we run into such debt, as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our calling and our creeds... [we will] have no time to think, no means of calling our miss-managers to account but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers... And this is the tendency of all human governments. A departure from principle in one instance becomes a precedent for [another ]... till the bulk of society is reduced to be mere automatons of misery... And the fore-horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression. - Thomas Jefferson


AND NOW WE ARE BEING BOMBARDED WITH MESSAGES THAT OSAMA BIN LADIN IS PLANNING TO ATTACK THE UNITED STATES OF AMERICA. AND I'M TELLING YOU, BE PREPARED FOR A MAJOR ATTACK. BUT IT WON'T BE OSAMA BIN LADEN, IT WILL BE THOSE BEHIND THE NWO. IT IS VERY LIKELY THAT THEY WILL STAGE A TERRORIST ATTACK AND IT IS GOING TO BE BID ENOUGH THAT MARTIAL LAW COULD BE DECLARED. - BILL COOPER 06/28/2001 (3 MONTHS BEFORE 9/11)
Anonymous Coward
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06/07/2010 11:55 PM
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Re: Get rid of the money system, then get rid of goverrments
Anonymous Coward
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06/08/2010 12:17 AM
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Re: Get rid of the money system, then get rid of goverrments
Let's get rid of the government first.
 Quoting: goodgirl

Name the people.
Anonymous Coward
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06/08/2010 07:01 PM
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Re: Get rid of the money system, then get rid of goverrments
One reader has an epiphany:
[quote reader]Oh, man oh man! It is so f_cking simple it is right in front of us can we can't see it!!!

Think about it.

A and B agree that C will keep the books.
A promises B
B promises A
C records the transaction.

If the transaction needs to be bonded

A and B each deposit with C something equal to the "worth" of the value of the promise.

If either A or B fails, C credits the aggrieved party.

Simple as that.
Anonymous Coward
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06/08/2010 07:06 PM
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Re: Get rid of the money system, then get rid of goverrments
"...there is not enough energy to push the exponential algorithm to maximum expansion plus one. ... & So the real question is, can the idiocy of the uninformed, dis and mis educated morons elected by a doomed electorate save them from the impending mathematical disaster ????"
 Quoting: Barnacle Bob


The dead do not rise from the grave to serve food upon any table, nor do the yet unborn. All human society is a mutual support organization and all human needs are provided by the physically fit generally from the ages of 18 to 70. The concept of an inherited debt is an enslaving memeplex that needs to be dropped. This mind map for an economic system needs to be filed in the same circular file as the flat-earth maps.

Just think positive; ignore the negative, and GET ER DONE, it's the American way
Anonymous Coward
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06/08/2010 07:09 PM
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Re: Get rid of the money system, then get rid of goverrments
Outside of the "money box", to me, money is an abstraction, an accounting symbol, and a medium of exchange to facilitate trade.

I do not see how a unit of human time can act as a reference to account for the different values of a Cordon Bleu meal versus MickyD burger. One hour of a great chef is not on par with one hour of a grill man, in quality or quantity.

And the human population is a finite quantity, and its total hours does not retain proportionality with the potential output, once labor is multiplied by tools, machinery, automation, and mass production.

Likewise, the use of precious metal coin, a finite and scarce commodity, cannot act as an efficient medium of exchange to facilitate trade of the world's potential output of goods and services.

I deem it evidence of mass insanity when scarce money (or scarce credit, thanks to usury), forces industries to collapse, and laborers to lose jobs. Or that a bumper crop reduces the selling price of a farmer's harvest. Unemployment, for lack of money in circulation, is absurd.

Prosperity is the creation, trade and enjoyment of surplus usable goods and services. The more one can do, make, trade, with less resources, the more prosperous we all should be. Obviously, the money token system is one of the root causes of poverty, and prevents the productive people from prospering.

There is a widespread belief that "money has to have a value" independent of the marketplace. But it would appear that the marketplace is the reality, and all money is but an illusion that empowers the thieves and scoundrels to prey upon the productive masses.
 Quoting: Jet Graphics


Good stuff Jet!
Levi Philos
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06/08/2010 07:15 PM
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Re: Get rid of the money system, then get rid of goverrments
It is my CLAIM THAT AS LONG AS THERE IS WORK TO DO AND PEOPLE ABLE AND AVAILABLE TO DO THAT WORK THAT NO SHORTAGE OF MONEY SHOULD EVER HAPPEN.

Pieces of paper with writing and ink are somehow in shortage?

Do you need to be insane to believe such BS?

There is a shortage of credit?

Whose credit are we discussing anyway?

Questions that demand rational answers.
Levi Philos
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06/08/2010 07:22 PM
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Re: Get rid of the money system, then get rid of goverrments
There are three general categories of things of value that could be the basis for issuance of money.

1. Commodities and finished products held for claim can be the basis for a form of warehouse receipt - a bearer title instrument.
2. A promise to create and deliver something of value in the future - the promissory note - a form of a contract.
3. Human time as represented by a symbol such as the Ithaca Hour and redeemable in human intellectual and physical labor.


Each of these categories could in turn be broken down into general classes of total value.

1. Commodities, Products, Promises, and Time of high value and backed by insurance policies and/or performance bonds. Guaranteed redemption.
2. Commodities, Products, Promises, and Time of moderate or medium value backed by cross collateralization such as cooperative membership and/or corporation stock, and/or union affiliation in the case of Time Symbols. The second class of value might be backed by a formalized system of mutual credit.
3. Commodities, Products, Promises, and Time of low value could be transmitted without guarantee other than word of mouth recommendation and/or reputation records such as e-bay keeps on buyers and sellers.


Examining this structure in some depth you start to see that an entire matrix of things that can be money appears.

When you see that money is actually a method or set of methods of conveying ownership by proxy, then it becomes readily apparent that there should never be any shortage of money.

It is the limitation of money to be a single *thing* (things are found in limited quantities) rather than money as a communication that control freaks who steal by lying are enabled of their fraud.

Using precious metals for your "utterance" of money is essentially an anti-counterfeiting measure. Study out what the casinos do to issue gambling chips - they have a counterfeiting problem too, and have solved that problem by a variety of techniques.
Levi Philos
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06/08/2010 07:36 PM
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Re: Get rid of the money system, then get rid of goverrments
Money indoctrination leads us to believe that we can "store" future performance by collecting mediums of exchange (used to facilitate trade in the present).

If we were all prudent, and "saved" our money, the marketplace would collapse for lack of a circulating medium of exchange.

Thus using money to "store value" is a mistake and contrary to the function of money.

(Banks engage in usury, placing your "savings" into circulation, for interest. They do not hold your money in their vault. That would be counterproductive.)

In the marketplace there are real goods and services offered for sale.
Beyond simple barter, we rely upon the abstraction of money tokens to facilitate trade of different items and services.

Obviously, we cannot rely on a storehouse of money tokens to compel a marketplace to sell us that which is not available. And if all sellers are to be able to trade, there needs to be enough money tokens to purchase everything.

Classic economics (money mad), would have the price fall as money scarcity increased. In other words, the more you work, the less you'd be paid. Or the more you produce, the less you'd receive. If you were a debtor, you'd be doubly injured, being forced into default no matter how much harder you worked or produced.

There is a mathematical error in making a subset of a set into a representation (an abstraction) for the whole set's value. Making gold coin into a money token, for example. Gold is a subset of the whole set of goods and services in the marketplace. If the buying power of the gold coin was proportional to the whole set, then a subset of the gold coin equal to the value of all gold in the set, would be able to purchase all the gold coin, and thus the whole set. Ergo, no "hard money" system is sustainable. It will create booms and busts as the finite money token system is reset, and property changes hands.

It would be more equitable for producers to emit private promissory notes, denominated in that which they could do, produce or have. In essence, each producer creates the medium of exchange with which to purchase their output.

Of course, when one tenders a note back to the originator, and it is discharged, the note is destroyed, having fulfilled its function. Which means that the money token supply would grow and shrink in proportion to the offered goods and services.

It would fit well with my idea of prosperity - the creation, trade and enjoyment of surplus usable goods and services.
 Quoting: Jet Graphics


More great stuff from the Jet
Levi Philos
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06/08/2010 07:40 PM
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Re: Get rid of the money system, then get rid of goverrments
It would be more equitable for producers to emit private promissory notes, denominated in that which they could do, produce or have. In essence, each producer creates the medium of exchange with which to purchase their output.
 Quoting: Jet Graphics


Exactly true. But then you get into the problem of trust and the concept of the "trusted intermediary."

Enter again the banker as trusted intermediary where the banker is held to provide for specific performance of contract.

The banker becomes an agent to the producer of value.

You see, most of the infrastructure is already in place, but the banker has assigned the seigniorage to himself.

The cloud of complexity is obscuring the essential simplicity of the hypothecation process.
Anonymous Coward
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06/08/2010 07:53 PM
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Re: Get rid of the money system, then get rid of goverrments
Let's get rid of the government first.
 Quoting: goodgirl


I agree. With no strong central government the people of the world might actually get along. Get rid of world banks also.

This last week I went on a trip to a national park with a friend who also brought along an Iranian student friend of his who also brought along another Iranian. Great people. This national park was also filled with visitors from all over the world.

What struck me is how well everyone got along. Most all want the same as we do - peace and and happiness for their families. This trip was a real eye-opener meeting just common people from all over the world and even countries I had always viewed as enemies.

It's the government and politicians (with their greedy banks and corporations) that cause all the problems and feed us the propaganda to hate whole countries for what only a small percent (the politicians) do.
Levi Philos
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06/09/2010 02:16 AM
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Re: Get rid of the money system, then get rid of goverrments
Extraction from
[link to rhetoricaldevice.com]

The Barley Standard

The early Mesopotamians used a weight of barley as their first currency. It seems important to point out to the modern reader, accustomed as she must be to the way modern currency works, that this money was different from the money of today in some very important ways. It was an actual edible commodity that could be used to make soup, bread and beer, for one thing and for another, it was prone to decay: pests ate it, it tended to rancidity if kept for too long, and so on.

[footnote: 12. In case it’s not obvious, this meant that during hard times one could literally eat the family savings.]

This latter property of the currency was shared with most goods in the economy, all of which fell somewhere along a continuum of impermanence The impermanent nature of these goods is linked to the underlying ecosystem from which all value ultimately arises; everything that wasn’t made of sand (pottery) or metal (tools and jewelry) was the direct product of sunlight and bio-mass, and consequently subject to unavoidable near-term wear and decay.

[footnote: 13. Consider the staying power of a pure service (gone immediately), a loaf of bread (can be held for a couple of days), a pot of barley (a year or two), a suit of clothes (a few years), a bronze plow-blade (a decade or more), and, at the extreme end of the durability continuum, the land itself (seemingly eternal at the time).]

The harmony between the nature of the goods in the market and the nature of the currency meant that — although incomes were far from equal — no one could get very rich because their money would lose its value within a couple of years. This storage problem was carefully studied by those with high incomes, particularly the Priest Kings who — though a small hereditary minority — received a tithe from every producer in the community. Their surplus income was so large that they were unable, even with the technologies of beer and cheese, to store all the commodities they received.
Levi Philos
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06/09/2010 02:35 AM
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Re: Get rid of the money system, then get rid of goverrments
[link to finance.groups.yahoo.com]

The World Financial System and Credit Creation

Dear Dirk,

Food for thought.

The World Financial System comprises multiple National Sub-Systems for each of which The Washington Consensus prescribes Rules of Credit Creation which make no sense if one imagines them to be applied to the World Financial System as a whole.

Within the latter, each act of Credit Creation entails matching increases in the World Financial System's Assets and Liabilities.

In principle, each and every item on both sides of the World Financial System's Balance Sheet is fungible.

Hence, any attempt to limit World Credit Creation through "constraints" specified in terms of Balance Sheet items is readily circumvented.

At the level of National Sub-Systems, Rules of Credit Creation invariably reduce to such "constraints" in one form or another.

However, unregulated capital flows subvert such "constraints" at the level of National Sub-Systems.

In this connection, I am once again reminded of my question to James Tobin and Robert Solow thirty years ago:

Why do Mainstream Monetary Theorists reason as if all Investment is financed with Savings out of Factor Incomes and not by New Credit?

Solow found this an interesting question to which he expected Tobin to respond.

Tobin never did.

Gunnar
 Quoting: Gunnar Tómasson


Then, a reply: [link to finance.groups.yahoo.com]

Re: credit creation

I knew this would draw fire from Swindon!

Yet it is important to stress that money creation occurs without inputs and has no costs *of production*. Of course loaning money bears a risk, which needs to be reckoned with and provided for. Still, no costs need to be incurred at the moment of lending. Costs may arise when things go wrong, and this may be insured against in advance. Even where this routinely occurs, as in banking, providing ex ante for ex post failure is not the same as incurring upfront costs of inputs.

This is not sophistry. It is important to make the distinction over against those who argue that savings are a necessary input into loans.

The term fiat money is used to mean any money declared by a government to be legal tender, not fixed in value in terms of any objective standard and without intrinsic value.

This applies not only to currency but also to electronic money. Isn't all our money fiat money?

Dirk
 Quoting: Dirk J.Bezemer


Group thesis; that credit is the basis for money creation whereas my belief is that credit is a secondary phenomena.

Commodities and finished products are the primary values in exchange.

That credit is money is a large portion of the present problem.

Levi Philos
Levi Philos
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06/09/2010 02:41 AM
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Re: Get rid of the money system, then get rid of goverrments
At the bottom of this page: [link to rhetoricaldevice.com]

we find discussion of the first coinage of precious metals.

In regard to that, I offer this:

"Dollar" - The Name and Usage

The word "dollar" was historically associated with silver coins, not gold. Here are a couple of citations.


The word "dollar" is derived from Low Saxon "daler", an abbreviation of "Joachimsdaler" – (coin) from Joachimstal – so called because it was minted from 1519 onwards using silver extracted from a mine which had opened in 1516 near Joachimstal, a town in the Ore Mountains of northwestern Bohemia. [link to en.wikipedia.org]

The weight of silver in the dollar coins varied widely over time and place; the earliest "taler" (sometimes "thaller") coins (in Scandinavian countries "daler") were about 8 grams, the Spanish created the milled "dollar" with the edge reeds to prevent scraping of the edges; and the first US dollar was about one ounce - 31 grams more or less. The Hanseatic League who were businessmen of northern Europe settled their accounts using the silver coinage and this spread down to Spain and over to the new country - the north American states. [link to www.projects.ex.ac.uk]

The period of time from 1519 to 1873 when the coinage act was passed that demonitzed silver and made gold the recognized "dollar" [link to coinschool.blogspot.com] was about 350 years. Even after that coinage act, silver continued to circulate and silver "dollars" could be found in the great basin states, especially Nevada up to about 1960. Altogether about 425 years.

The William Bryan speech "Cross of Gold" was a reaction to the switch from silver to gold: short version:

[link to www.youtube.com] (3.5 minutes) - longer 9.3 minute version from 1921:

[link to www.historicalvoices.org]



Douglas Gnazzo wrote a five part series in 2005 that says basically that silver is the lawful money of the states and gold was only priced in relationship to silver.

[link to www.financialsense.com]

[link to www.financialsense.com]

[link to www.financialsense.com]

[link to www.financialsense.com]

[link to www.financialsense.com]
Levi Philos
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06/09/2010 02:58 AM
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Re: Get rid of the money system, then get rid of goverrments
One reader has an epiphany:
{quote Correspondent} Oh, man oh man! It is so f_cking simple it is right in front of us can we can't see it!!!

Think about it.

A and B agree that C will keep the books.
A promises B
B promises A
C records the transaction.

If the transaction needs to be bonded

A and B each deposit with C something equal to the "worth" of the value of the promise.

If either A or B fails, C credits the aggrieved party.

Simple as that.
 Quoting: correspondent


The correspondent was commenting on the Ripple system: [link to ripple.sourceforge.net]

He has failed to grasp that the bond does not have to be large enough to cover the value of the entire transaction.

Some study on existing bonding mechanisms reveal that only partial coverage is needed. The bonding company always gets a percentage.

We know that of all transactions - some small percentage will fail. Upon failure the bonding company picks up responsibility for specific performance. They pay for outstanding expense out of their profit.

See also: insurance.

Reputation records ("credibility") of people are also valuable references.

THIS IS WHAT MAKES THINGS DIFFICULT TO UNDERSTAND. NOT EVERYTHING IN THE PRESENT SYSTEM IS FAULTY.

IF WE DIDN'T ALREADY HAVE THE UCC, WE WOULD BE FORCED TO REINVENT THAT BODY OF COMMERCIAL LAW.

ONLY THE VERY BASIC CONCEPT OF "MONEY" NEEDS TO BE REINVENTED
Levi Philos
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06/09/2010 03:20 AM
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Re: Get rid of the money system, then get rid of goverrments
Credit instruments based upon unbacked paper are given value by the people who back it with their products and their intellectual and physical labor. The people become the final creditors when the banks fail to back the credit entries.

Compare to this Barefoot Bob piece: [link to www.barefootsworld.net]
Levi Philos
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06/09/2010 12:50 PM
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Re: Get rid of the money system, then get rid of goverrments
Hyman Blumenstock (Deceased)

Picture and story: [link to 39th.org]

An Economic and Political Alternative, by Hyman Blumenstock and Submitted to the Lelio Basso Foundation of Rome

Abstract

There are at least two historical situations wherein some misconceived philosophy had to cut off short because its progress could go nowhere, that had to be replaced with a completely new philosophy. These were Alchemy with its mistaken four chemical elements of Fire, Earth, Air and Water, that was replaced in toto by Mendeleyev’s completely new approach to Chemistry, with its currently 80 some odd, more practical chemical elements. The other was the Flat Earth Theory that had to be completely replaced by the Round Earth Theory. This paper concerns Economics, the Science of Scarcity (of Food) that had outlived its usefulness a century ago, when Food inadvertently became abundant. A completely new textbook is called for, titled, “Economics 2, the Science of Abundance.”

Historically, as is evident in the Bible, a history of mankind, man’s prime preoccupation since time began has been Food. The word “eat” is mentioned some 655 times throughout the 500 odd verses of the Bible, the most thorough history of mankind one can find. The modern discipline of Economics concerns itself ultimately, no matter how far afield is the immediate subject of Money, so popular today, with the required life giving function of eating. Every aspect and nuance of the typical 800 page economic textbook ultimately reflects the “living” of any human being assured of an adequate Food supply.

However, the over complicated thought that comprises modern Economics, the Science of Scarcity (literally only of Food), can be reduced to what a new born infant naturally is born “knowing” about the essence of Economics. That is that a hunger pang shall signal an action, such as crying, and with more sophistication, foraging and tilling the soil, or misery, crime, violence and war, and the end result, satiation of a filled belly with peace and contentment. This happy condition was ripe for the happening just a century ago, after countless millennia of insufficiency and misery, compounded by violence and wars. Once understood and realized, the transition from Scarcity to Abundance, the practical advent of a new, modern version of the Garden of Eden can be simple and easy.

More to follow from Blumenstock

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