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Free Market Competing Currencies; The Only Answer!

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posted on Aug, 12 2011 @ 03:13 PM
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I friend who disagrees with me asked me what my plan is for fixing the currency/debt crisis and I put together nine points of what needs to happen and why. I am sure some things could be added but this should be the basis for reforming the system in my opinion

1. Free market currencies are interest free and eliminates the threat of
government over borrowing and spending.

2. A free market prevents run away credit by eliminating artificial credit
expansion and regulates the amount of currency in circulation relative to the
market.

3. In a free market the money supply is determined by the amount of production
and demand not by some arbitrary central planners. If production out paces the
money supply prices fall naturally on goods and services however the economy is
still expanded as it did in the 19th century when we have a relative free market in currency.

4. A free market eliminates government spending bills into the economy
artificially inflating the economy on their whim while guessing at production and expansion
thus eliminating the threat of government induced inflation or depression.

5.A free market eliminates the need for legal tender laws which are the cause of
all fiat money and the devastation they have caused, effectively taking away the
power from government to intervene in the economy, markets, and lives of the
people.

Note: [my friend] thinks we need a constitutional amendment to make the fiat money we
use legal. The founders knew the evils of fiat money first hand from their
forays into it in the colonies and then with the "interest free" continental
dollar. That is why they made gold and silver the only legal tender in the land
when they drafted the constitution. Sadly we have ignored their wisdom in this
and it has been the cause of great harm to us through out our history.

6. A free market eliminates the need for a central printing press and will allow
innovation in money transfers and exchanges and eliminates government tracking
of peoples money.

7. In a free market counterfeiting will be difficult as people will be more
mindful of their money and the private sector who is always more efficient then
government will develop technology to prevent counterfeiting as people gravitate
to sound money or hard money in a bi-metals standard, you can't counterfeit
precious metals. The area some fear is in electronic transfers of which there is
already good encryption and safe guards that can be used.

8. A free market in currency eliminates the need to lobby corrupt legislators
and officials to be honest and do the right things. It simply cuts them out of
the whole process and puts the control back in the hands of the people. If
someone does not provide a good service or product the people vote with their
feet and wallets and go where one is provided. This is true democracy i.e the
free market in action!

9. It would be the easiest least painful transition from the current system.
Just repeal the legal tender laws and allow people to choose. FRN's would still
be the money of choice for a while as that is what people are used to however
gradually people would move to more stable currencies.


edit on 12-8-2011 by hawkiye because: (no reason given)




posted on Aug, 12 2011 @ 11:43 PM
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The Bitcoin currency does appear to match up with a lot of your points. It has undergone some changes since it started and is still in development. The foundation does appear reasonably sound from a light investigation and the community does appear to be gradually building. Being an emerging technology it is still risky, more so if you are not aware about the technology and security requirements. It has been going for a few years now so it has some legs and a promising future.



posted on Aug, 13 2011 @ 12:20 AM
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Originally posted by kwakakev
The Bitcoin currency does appear to match up with a lot of your points. It has undergone some changes since it started and is still in development. The foundation does appear reasonably sound from a light investigation and the community does appear to be gradually building. Being an emerging technology it is still risky, more so if you are not aware about the technology and security requirements. It has been going for a few years now so it has some legs and a promising future.


I like the concept of bitcoins anything that runs a game on the government is ok by me. However we'll see where it goes. I haven't had time to get involved with bitcoins but may one of these days.
edit on 13-8-2011 by hawkiye because: (no reason given)



posted on Aug, 13 2011 @ 07:36 AM
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reply to post by hawkiye
 


Or they could just return to the gold standard?



posted on Aug, 14 2011 @ 04:00 AM
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Originally posted by eldard
reply to post by hawkiye
 


Or they could just return to the gold standard?


That does not solve anything because is gives the government control over the money supply and they always abuse thier power. It needs to be a free market in the hands of the people. That is true democracy people voting with thier feet and wallets if they are not provided a good service...


edit on 14-8-2011 by hawkiye because: (no reason given)



posted on Aug, 14 2011 @ 09:17 PM
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reply to post by hawkiye
 


You mean people like Soros? He's an individual, too.




posted on Aug, 15 2011 @ 12:07 AM
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Originally posted by eldard
reply to post by hawkiye
 


You mean people like Soros? He's an individual, too.



People like soros got where they are because of being politically protected by government. Get government out of it and the soros's of the world will have to compete on a level playing field.



posted on Aug, 18 2011 @ 01:52 PM
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reply to post by hawkiye
 


No, they won't. They have professionals and supercomputers to do it for them.



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