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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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“There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.”

– Mervyn King – Governor of the Bank of England


Read closely; "All it requires is some commonly used unit of account..."

That commonly used unit of account is generally referred to as "money."

The trick is to make money reliable and of low extractive cost.

The rest of that writing "People would pay each other <SNIP> ... without the payment being routed through anything that we would currently recognize as a bank."

I snipped a single word "electronically" just to keep your options open. What Mervyn King is writing about is decentralized settlement of accounts. The real clue here is what Greco has been writing about: IE DECENTRALIZED MUTUAL CREDIT IS A MORE EFFICIENT AND ROBUST SYSTEM OF EXCHANGE THAN THE PRESENT SYSTEM OF HIERARCHIC CLEARING


Muti-Lateral Barter replaces central banking (Thomas Greco)

Coming soon: a world without money and banks.

[link to beyondmoney.net]

Who in their right mind would be so bold as to predict the end of money and banking as we’ve known it (besides yours truly, that is)?

Well, how about the Governor of the Bank of England?

“There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.”

– Mervyn King – Governor of the Bank of England

You see, even the insiders can see the writing on the wall.

Another observer who has been in the thick of cashless trading developments for decades is Bob Meyer, publisher and editor of Barter News. A while back, Bob wrote an article that gives some pertinent history of the “barter” industry and sketches his vision of how “Simple One-to-One Exchanges Will Give Way to Organized, Computerized, Multi-Lateral Barter.” I strongly recommend that people read it

[link to www.barternews.com]
 Quoting: Anonymous Coward 3131543
 
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