You will never learn this in school!

Exactly. And "he" dwells within ones heart. Start there.

This is the same guy that told his followers to bring in all of their bills they owed, and burn them in a dumpster out back, so they could donate the money into his bank account.
He feeds on the elderly, sick, and poor.
He is pure evil trash, and the only reason he's not in prison is because his brainwashed followers willingly give him money they can't afford to give.
What a garbage human being.

GDP and the resources under our feet...But really, that $20 represents dinner from the grocery store.


yeah, but actually it's a government promise to pay at some point in the future, backed by the ability to confiscate GDP and resources. Then you get into "a promise to pay is not payment", but that's a whole 'nother thing.

F.A. Hayek was recommending competition in monetary systems back in the late 50s through to 1970 (+/-).

Too bad he didn't thoroughly familiarize himself with the writings of Bastiat; Hayek was correct and Bastiat was more correct.

yeah, but actually it's a government promise to pay at some point in the future, backed by the ability to confiscate GDP and resources. Then you get into "a promise to pay is not payment", but that's a whole 'nother thing.



That's irrelevant to the theory that a $20 is worthless paper...It's your proof that you contributed to society, assuming you didn't steal it...

Last Edited by BRIEF on 08/15/2022 07:36 PM

It has been said that "Time is Money" but other than the Ithaca hour we generally do not trade with tokens representing units of time.

What is after all - the "time value" of yesterday?

Money is a brilliant means of barter...You can't print your own, there are huge consequences for stealing it, so you must contribute to your community to get it...

Last Edited by BRIEF on 08/15/2022 07:38 PM

The time value of money is what I teach...yesterday's time value for me is 30 years in the market...going forward the time value is exponential...

You spend time earning money...That's why you save it! Don't waste it!

Last Edited by BRIEF on 08/15/2022 07:42 PM

whatchu talkin bout willis, i did learn that in school, in college government/history classes.

and then more in depth in business undergrad classes.

Brief is correct, but few will comprehend: ”It's your proof that you contributed to society, assuming you didn't steal it...

Narayana Kocherlakota prepared a paper fall of 1998 that served to prove one of the functions of money as social memory.

[link to duckduckgo.com (secure)]

Thread: Why do Moran Hillbillies hate Socialism? (Page 13)

In the Basque region of Spain near the border with France there exists a cooperative. The cooperative owns several major manufacturing facilities and they own one more thing.

The cooperative also owns a commercial bank with a license issued from the Spanish government.

The operations board of this bank answers to the overall management of the cooperative.

This model is unique in all of the world.

Banking profits are recycled back to the people who give value to the medium of exchange.

THINK ABOUT THAT PEOPLE; THINK DEEPLY AND REMEMBER

They want an excuse to not have to work. If money is worthless, but it still buys what you want, then why work for it...

When they learn the hard way to respect money, they will want to save and invest it...Or remain stupid forever...

LOL I'm a lot of terrible things, but not that.

See there you go, he WAS just trying to fuck you in the ass.

At least Father Murphy didn't take your lunch money.

If you were a systems engineer, what attributes, functions, and characteristics would you design into an alternate system of exchange?

No spending before earning...

You don't eat before cooking or ejaculate before fucking...

So why spend before earning? It's illogical.

Last Edited by BRIEF on 08/15/2022 07:53 PM

Money can be thought of an application. A tool designed to perform certain tasks.

Communication of ownership of various commodities, finished products, and allocation of human effort to problems that need solutions.

An application designed to facilitate barter transactions with a virtual media of exchange.

Everything we use is a tool, including guns...

Brief writes like someone with a strong belief in specie coinage as medium of exchange.

Allow me to take a shot at this belief.

Money is a communication. Like language money morphs over time and distance taking on various characteristics that prove useful to the involved people.

In times past long distance commercial trading via caravans over land and ships upon the sea used specie coinage as media of exchange. But there existed bandits upon the land and pirates upon the sea who raided the traders at intervals...

To stop these raids (and after all, the donkey with the coin bags might be frightened over the cliff or a storm might sink the ship) letters of credit evolved. The specie remained safely in vaults. The coins only came out as settlement of differences of contract values.

At the heart of mutual credit agreements lies the principles of double-entry bookkeeping credit entries that over time became the “consideration.” The hypothecation of the promise to create and deliver value in the future lies at the core of credit money.

The specie coinage held in vaults must morph into performance bonds.

But then to avoid the problems caused by an exponential growth of debt – the bank must be operated as a not-for-profit with professional managers and all profit returned to the people.

The common credit of the people was collectivized in the period of time 1913-1933 in an implementation of the fifth plank of the communist manifesto.

The collectivization of credit was essentially an identity theft writ large upon all of the people.

When the banker hypothecates your promissory note under the pretense he is the lawful owner of the credit, then the banker is profiting from dealing in stolen property.

Not really, because the pirates will steal the $20 and is able to spend it as his own...

The primary function of money is that it cannot easily be duplicated except by the treasury and mint...and that it is universally accepted as the value in denomination that it represents...As a business owner (retired), I could refuse cash, even refuse dollars in any form...it's my right to demand any legal form of payment for my services...

When the common credit becomes the medium of exchange, then role of the banks/banker has to become an agency role with defined duties and responsibilities.

The banker as agent must be acting as co-signor of contracts, insurer of principles to the contracts, underwriter, and guarantor to specific performance of contract.

The very large error I see digital currency advocates making lies in a common perception that because electronic digits are free (or nearly free) that a functional digital system of exchange can operate at a near zero cost (cost defined as extraction of goods and services from the shared physical economy). This is not true; it is impossible.

People in general all over the world can be said to be “efficient” where efficiency is defined as the most food gathered for the least energy expended. When the efficiency takes the form of lying and stealing the correct allocation of human effort becomes circumvented.

A smooth operating system of mutual credit WILL NEVER BE FREE.

The agency must extract it's needs.

DAMN, that's one HUGE steaming pile of bovine excrement..


.

Nut for Jeezuz?

To provide for the cost of the banking agency a principle discovered by Silvio Gesell over one hundred years ago can be used.

Demurrage.

Everybody benefits from a smooth working system of exchange; therefore everyone pays.

A small fee is extracted from the circulating medium of exchange and from accounts of record. Gesell suggested 5 mil per annum; I suggest that isn't enough.

If time tokens became money, the demurrage fee should be one minute per hour per month.

Read Bastiat: [link to oll.libertyfund.org (secure)]
[link to mises.org (secure)]

Come back in five years.

You can refuse to pay demurrage if you own the container for which is being transported...but you still pay the price of its fare for transport...

He really lays it out well.