Originally Posted Paul,
Rev, I browsed the several types of local currency methods at the transaction.net site....
GOOD! for you. You seem open-minded and willing to listen, without prejudice (I hope) to the opinion of others. In the same spirit (that is, pneuma, spiritus, ruach, ruh and whatever) I will listen to you, or to anyone.
BTW, as an amateur & lover of economics, I MAKE NO CLAIM THAT I AM AN EXPERT economist with all those charts.
Therefore, if I appear be dogmatic, or opinionated, feel free--anyone--to let me, and all interested, know.
Paul, as you say,
I have a problem with any currency who's value can be manipulated by people who have loads of money.
then you suggest your solution
If we are looking to stabilize currency--I assume you mean: the value of the currency we use--then we ought not allow currency to be traded like stocks ... currency has no real value.
I agree and I put it this way: The federal paper, which we call money, or currency, has no intrinsic value. It is simply a record of what the banks says we owe to the lenders and to one another.
Therefore, FIAT money, created by government in cahoots with the banks, is simply an IOU; it is a number on a piece of fancy paper. The number is a statement of what capital we now owe, and the "rent" we need to pay, over time, on any debt we still owe.
This system makes for INFLATION--the thief of all real wealth--INEVITABLE.
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Got to go, now! I will be back to comment on your other comments, OK!
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AS YOU SAY,
... its like borrowing money on the papers you get when you take out a loan at the bank.
money only has value when it is used to purchase a product or service.
a federal reserve note such as a dollar bill is nothing but a loan that is given to the federal reserve banks by the federal reserve ( which is just a few uber rich folk ) and it is the People of the United States who must repay the loan through interest , the People are the collateral taken for security in the loan.
all currencies are worthless until you need to take out a loan by spending a dollar bill.
to make it really simple , if you have a volume of dollar bill notes that equal 1 million dollars , then you have the right to put the People of the U.S. 1 million dollars further in debt.
This means that any volume of federal reserve note's sitting
in someone's bank account earning interest causes the amount
that the People of the U.S. owe to the fed to increase by every cent of interest paid to that account.
the federal reserve makes dollars by recording dollar amounts
in their accounting system.
those dollars are nothing but loans to be loaned to the federal reserve banks.
those dollars are then loaned to the federal reserve banks
the federal reserve banks then print out the amount of dollars on the loan.
and the federal reserve banks then loan those dollar notes to federal reserve branch banks.
people can then apply for the right to spend those federal reserve notes by taking out a loan against what they are worth
or the worth of a product.
the federal reserve is a ponzi scheme.
and that's all it is. ...
