Implications and Derivative Conclusions from Presuming Money is a Communication;
...quoting myself: "It is my position that there are multiple ways to "do money." That money in fact is a form of communication by means of symbols and contracts by which the products, commodities, and human intellectual and physical labor of humans may be exchanged. ...a set of methods of rationalizing the distribution and ownership of the things a-fore mentioned."
The very first derivative conclusion is that Hayek was absolutely correct. Not only do we need competition in money system but that competition is implied in a communication theory of money.
Gold and silver coin should be in common usage and encouraged.
The Ithaca Hour is a good example (even if not a perfected system) for the exchange of human intellectual and physical labor time.
The Michael Rivero proposal for "The Electo" has validity: (search yourself - the link is a possible auto-ban)
Generalized that means an energy unit is exchanged that might be represented where the basic unit is a mega-erg unit of energy. But kilowatts of electricity could also work. In Europe engines are not measured in horsepower - they rate them in kilowatts. I have never spent much time on these concepts - and they are not first invented by Michael Rivero either.
Any finished product or commodity can be collateral for a warehouse note where the backing is whatever is in the warehouse. The demurrage principle applies here. Simply expressed the demurrage principle states that the longer you carry the warehouse note the less product you recover upon redemption. A carry cost of one percent per month is not unreasonable. This very simple principle will reduce speculation costs in commodities.
A cereal grain note could be created that consists of a basket of the common grains and beans using an algorithm where the common value is a unit where quantities of such grains as rice, wheat, rye, barley and the popular grains by measurement are the backing for the cereal grain note. Demurrage principles apply.
A public credit note might be created and used within a Richard Cook theory of public credit as a public utility - or an Ellen Brown or Bill Still inspired credit model.
Richard Cook's model: [link to video.google.com
] (part one of six parts)
With these computers and other tools of communication available...
THERE IS NEVER A SHORTAGE OF "MONEY" IN A COMMUNICATION THEORY OF MONEY...
Shortage is implied in Austrian economics. Austrian economics applies to gold and silver coinage and to warehouse receipts for specie money.