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Message Subject Get rid of the money system, then get rid of goverrments
Poster Handle Anonymous Coward
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The Auriti reference is to his piece "THE INDUCTION OF VALUE TO MONEY AND THE OWNERSHIP THEREOF"

A closely related ancillary is the Mundell explanation of Gresham's law.

There is nothing wrong with electronic entries as money so long as these entries are accurate and true to facts. Neither is there anything wrong with paper symbols as money.

IT IS PROPER ASSIGNMENT OF SEIGNIORAGE TO THE PEOPLE WHO DO THINGS AND CREATE THINGS THAT IS IMPORTANT.

Money is a social mnemonic function. Check out Narayana Kocherlakota on money as a social memory. Kocherlakota is head of the Minnesota fed right now.

Interest can be thought of as a method of providing for professional administration (there will never be a "free" money system), however demurrage is a far better mechanism for providing for professional administration.

Additionally, all money systems must provide insurance like functions along with reputation recording and performance bonds. Much of what already exists in economic literature is correct; however, some spectacular errors of the axiomatic variety exist within this extant system.

Money should be thought of not as "holding value" but rather as a system of communicating value - thus my statement that money is a special branch of language.
 
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