Money as Debt, Part II is an 8 part series of youtube presentations is produced by Paul Grignon of BC Canada.
Sites associated with this effort are [
link to www.moneyasdebt.net] and [
link to www.digitalcoin.info]
95% correct with my writings on the errors at the bottom
1) [
link to www.youtube.com]
2) [
link to www.youtube.com]
3) [
link to www.youtube.com]
4) [
link to www.youtube.com]
5) [
link to www.youtube.com]
6) [
link to www.youtube.com]
7) [
link to www.youtube.com]
8) [
link to www.youtube.com]
Parts 1 through 5 are accurate. In part 6, Bastiat is presented as though he were English when in fact Bastiat was French.
Hereafter, I shall lump 6 through 8 together and also cover important omissions.
Credit as money and the Uniform Commercial Code (UCC) evolved as solutions to problems that arguably are too extensive to cover in a short video presentation. The UCC in turn today does not clearly address or define what money actually is nor are there any entries in law that assign the seigniorage to the producers of the value that actually "back" the credit entries.
You see, two similar problems exist with carrying on commerce at a distance across land and political barriers and across oceans with the weather problems and pirates.
If you use precious metal coins as a currency and bandits on land (or political bandits who have been characterized as bandits with a castle) set up gateposts and rob caravans, the transactions can never be completed. On the ocean, a storm may sink your ship with the loss of your precious metal coins, or again pirates (who sometimes carried commissions from pirates with castles) might rob your ship.
Letters of credit might be taken, however, these commercial instruments can be revoked and re-issued. Bills of exchange are the same in this regard.
The gold and/or silver coin did furnish a reasonably stable reference standard of value. Ron Paul (who is briefly depicted in this video series) seems headed toward some degree of better regulatory control of banking and while he gives service to the "gold is money" memeplex, I do not know his total agenda. [unknown agenda?]
The Zarlenga model of state issued money is presented as a possible solution. Digital coinage is presented.
However, and this is a large item in my opinion, the seigniorage issue remains untouched. Banking as an agency function to all producers of value is hinted at and the Major Douglas "Social Credit" public dividend is presented.
Using precious metals in a performance bond role is not even hinted at. Divorcing the medium of exchange function from the standard of value function is not hinted at.
