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Message Subject Get rid of the money system, then get rid of goverrments
Poster Handle Anonymous Coward
Post Content
If money is a communication, maintaining truth in the communications is the role of the trusted intermediary. The intermediary becomes the guarantor of specific performance. To gain that end all players in the system must contribute according to their degree of usage of the system - via demurrage. The promissory note to create and deliver value in the future can continue to be hypothecated (this is the backbone of mutual credit), but the creator of the credit instrument must needfully have a good reputation (credibility) or make a deposit of precious metals commensurate with the risk.

The role of the trusted intermediary (the bank and the banker) can be played by an independent provider, but my preference is as an agency owned cooperatively by the players.

Little chunk coin has failed in part to recognize their role as trusted intermediary.
 
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