What should be the new monetary system? What do you think?

Okay, maybe the "coin" should be a kind of "energy" .

a reply to: Metallicus

Bump.

Why should we have a monetary system at all?

a reply to: Chiftel

Thats what I wrote in the first place. But people need a trustable system, a system which defines the true worth of the "coin" and the "thing" .

a reply to: jrod

Ah, ok, that makes sense

originally posted by: r4inmaker
Who is this wizard then?

It is said that the wizard lives in a bubble in the great and powerful land of O$. But if you're really observant, sometimes the wizard can be seen floating around lower Manhattan or above the treasury department in DC.

In your equasion, we need to find the wizard... And the problem arises; there is no wizard...

Well then how else are we supposed to conjure paper currency out of thin air? More money? Poof! Make debt disappear? Poof!

When greed is no longer the primary motivating factor, you'll see the change you're looking for.

A monetary system is anything but trustable.

It is a monumentally stupid idea, actually.

Either it is a fixed money supply, in which case an oligarchic plutocracy will end up owning it all just by loaning it out at interest repeatedly.

Then everyone else who wants to trade amongst themselves will have to either:

1. issue their own currency.
2. rent the currency from the rich clique.

Or, alternatively, it is a variable money supply, which will tend to grow. So basically the current system.

Which means that purchasing power will continually be redistributed.

It's up to the issuers of the money to whom the purchasing power is redistributed and for what. Right now purchasing power is continually being redistributed from the many and poor to the few and already well off.

That's why the disparity between the rich and everyone else is so large in capitalism and never stops growing.

But money supply growth and inflation can also be used the other way, to take from the rich and give to the poor.

One thing is for certain though.

It is never the case that no one profits from new money being issued, that everyone loses. That is a lie.

Money issuance is a zero sum game, at least in the short term. Some people see their actual purchasing power diluted while their nominal purchasing power grows a little and other people see both their nominal and effective purchasing power increase.

It is never the case that everyone's effective purchasing power decreases. That is just a lie the right likes to proffer.

What should be the new monetary system? What do you think?

We bought America from the original inhabitants with beads, mirrors and knives.

a reply to: EternalSolace

+1

a reply to: olaru12

Can you please elaborate?

A 2 tier system is needed

1 tier would be the Main Street medium of exchange for goods-services...actual assets like gold/Silver/PM/ coins struck by an accepted Mint

the 2nd tier of money would be the Wall Street type of 'abstract' money...in some diverse forms (digital or paper) which would be 'valued'(on trust) at multitudes more than $1,440 OZ gold or $100 OZ silver coins used in everyday transactions by the Main-Street class....

but the wall-street script would in-no-way be tied to the value of Main-Street minted coins/bars...
both mediums-of-exchange would have their own FOREX values

Labour-card.

Every person works at something. Work in factories. Work in supermarkets. Bake bread. Work on farms. Clean the streets. Work in hotels.

For the more 'important' jobs, well, there will always be people who WANT to be doctors, mechanics, electricians, et cetera. They will train-up and be experts in their fields because they WANT to, because it is their passion.

Every body works a twelve-hour week. Two hours on weekdays, and one hour on weekend days.
Every fourth week is a week off.

The shifts and weeks off are rotating, so there is always a workforce in place.

So long as you have your card, you can get your goods. No need for money, just the card.

Food can be sourced at any time.
More expensive goods, such as cars, can only be replaced when defective or unrepairable.
Electronics are the same.

Housing is the same for everybody, depending on the size of your family. Sensible housing on a half or quarter-acre block, maintained by the family and others such as electricians, plumbers and other tradesmen.

The sick can only stop significant manual labour if a doctor deems them totally unfit. This is a case by case basis, although an official set of guidelines will be in place. For example, those who are bound to a wheelchair can work from home, for the same two-hours a day. They can do data-processing on computers. They can work for companies as outsourced secretaries, and so on.
Once a person is able to work more demanding roles again, they resume.

The retirement age is fifty. This is a benefit to the industries and the individuals. There will always be workers to take their place. The workplace will always be running proficiently.

The elderly exchange their labour-card for an aged-card, which simply means they do not work.

Working age for those going into work that does not require specialised study is eighteen, or the year after they finish high-school.

So, the mechanic has a labour-card. He goes to the hairdresser, shows his card, and gets his hair cut. The hairdresser has a labour-card. Her car needs a service, so she goes to the mechanic. She shows her card, gets her car serviced, and goes home to enjoy her afternoon.

A society where work isn't constant, isn't imposing, is a society where everybody performs a role and benefits equally.


All you need is a card that has your details, biometrically encoded.

Happy future.

I agree, Chiftel, we don't need a monetary system.

Leaves. Two leaves gets you a pack of smokes and a six-pack of beer. A sack full gets you a car. We need the paper for wiping our ass.

a reply to: skunkape23

Hhahahahha =) nicely done.

a reply to: r4inmaker

Redistribution of wealth is all that's required!

We could all be millionaires, but then where in lies "there" power over you?

What we have is a barter system, except you don't need to carry around a desk to trade for the lamp you want. You just carry representation of the value of the desk.

Our current system has evolved from the effort to create a better system over the centuries. We don't need to reinvent the wheel here, we need reform it and innovate on it's worthwhile aspects.

As for step one, imo?

Outlaw compound interest.

a reply to: Fiberx

"What we have is a barter system, except you don't need to carry around a desk to trade for the lamp you want. You just carry representation of the value of the desk."

Sounds a hell of a lot like our current monetary system to me. LoL

Minus of course our system of interest.

a reply to: andy06shake

Yes, that's what I pointed out, our system is barter ultimately.

The only change I mentioned was eliminating compound interest although many other aspects need reform and/or innovation as well.

We also should eliminate federal income tax, shift many systems into state control and fund a vastly reduced federal government with a federal sales tax of around 8%. This serves to tax those that "use" the infrastructure more, encourage a slowing in growth of consumption, encourage increased savings. Exclude food and medical care of course.

This federal sales tax would apply to ALL transactions except those food and medical care mentioned previously.

We need to let go of infinite growth economics and of debt based currency. Those two dynamics create a feedback loop that generates enormous wealth in the short term (by making money from nothing more than specultion) but the cost is infinite debt requirements. It works fine until you can't pay the interest and the illusion of prosperity falls away.