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06:14 AM

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Message Subject Get rid of the money system, then get rid of goverrments
Poster Handle Levi Philos
Post Content
That is a very very good post, and I congratulate Anonymous Coward 963441 on his understanding.

You can add to your understanding by recognizing how a demurrage fee on circulating currency and upon accounts of record is (probably) a better mechanism for collecting the fees necessary for printing and administrating the actual costs of money.

Then... add credibility records of people... the ability to hypothecate the promise to create and deliver value in the future is the strong point of this present system. To assure specific performance of contract we need credibility records together with some use of performance bonds. The performance bonds should be deposits of precious metals or other easily divided items of generally accepted value.

We know that a small percentage of all contracts to create and deliver value in the future will fail. A demurrage fee that is set as small percentage over costs of running the system functions as an insurance fee. A small percentage of all money is withdrawn as the contracts to create and deliver value in the future fail...

Not everyone will understand this, but I hope poster AC 963441 will grasp these additional principles.

Levi Philos
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