Removing both will, as there would have to be a sound currency to replace it. Please learn how to both read and do your own research. Please disabuse yourself of your idiotic money-as-debt crankishness.
No, there are only you and your friends who not only bleat crank ideas from Zeitgeist, but have no concept of what money actually is.
Please don’t.
Here is an analogy I use with inflation. It’s not complete, but it comes across to the low-information people…
Three kids were out exploring one day and came upon a discovery. Two boys each found a bag with $1000. The third boy found a large bag of candy. The kid with the candy is stuffing his face, and the other two are watching him, and eventually ask for a piece of candy.
The boy refuses.
Even though they know they can go all the way back to town and buy all the candy they want, they have an abundance of cash. It soon it is offered for a piece of candy.
He wants $20 dollars a piece, which the boys would normally find outrageous, but money is cheap, so they hand some over.
The boy also continues to eat candy because it is so delicious, and now there is only half a bag left, and the boy certainly can’t sell pieces for only $20 dollars any more. He’ll part with one piece for $50. Now money is becoming cheap to him too, and he certainly can’t part with his diminishing supply of precious candy… not unless he fetches a premium.
With the candy all gone, and each boy with roughly the same amount of money, they by chance happen to meet Jane. Jane thinks $200 dollars is a fair price for a handjob, and the price of labor is set.
Tomozope.
Can you competently solve calculus problems without knowing order of operations?
True, but one could offer the mint a percent of the gold as payment.
Or one could trade a good or service for some gold coins. No borrowing necessary.
ROFL[H]
This is clearly wrong. See Jane’s Hand Job’s are backed by Interest dept currency. Each time she gives a hand job a baby seal dies. Byron Dale has flown to the moon and back, would he lie!?
I’m talking about having money as wealth. Maybe you should read this blog (from bottom to top) www.moneyaswealth.blogspot.com
Can you tell me what this “sound currency” will be, what it is made of, where it’s going to come from, and how it’s going to be put into circulation? Please tell the principles under which this currency will function.
Yes
That’s simply not true. We don’t have a general rise in prices, what we have is finished prices that rise faster than the wages and the cost of raw materials.
The cost of doing business is interest and taxes. The only way taxes increase is when the government has to service a larger debt. The interest load generally increases when the business debt increases (well over 30 trillion now). Businesses shift their cost of doing business down either through lower wages, cheaper raw materials, or a higher finished price. We can all clearly see that is what has happened due to the mathematics of our monetary system. An increase in money does not create an increase in the cost of doing business, an increase in interest bearing debt does, and since the true money in our system is interest bearing debt, you can clearly see the effects. Are cars not made of less raw material, made cheaper with more effient tooling(less labor costs), and still cost more?
Is this not true for almost every product you’ve seen? What we have is a growing spread between the finished prices, labor costs and raw materials.
And besides if the wages and raw materials rised at the same rate as the finished goods who would care about inflation? You’re hours of work would still purchase the same amount, instead of today where it takes 2 or 3 jobs to have the same standard of living that one bread winner could provide 50 years ago.
I’ll say it again I’ve never watched zeitgeist and don’t care to.
How was that money put into circulation?
If this kid has a monopoly on the creation of candy they he probably could charge what ever people were able/willing to pay, but the moment there is competition someone will undercut him in the business world.
The value of jane service cannot be determined by Jane alone. In order for value to be set two parties have to agree, then the value is it. That is just Janes asking price. Unless what you’re saying is true I’m putting my house on the market for 500 million and someone will just have to pay that for it right? But where will they get the money? The same place all money is created, at the bank, when the create brand new loans.
And you’ll never understand anything about money until you clearly understand the effects of interest.
No, you’ve been talking about money as debt.
And if you are unfamiliar with the workings of a gold standard, there are many excellent books you can read. Don’t expect me to do your homework for you. Don’t be lazy. Since you clearly have enough time to read the works of cranks, you should have enough time to read works about reality.
Under the 1792 coinage act, anyone who brought silver to the mint could instantly pick up the coins by paying a premuim fee, if they wanted to wait until their bullion was weighed assesd, and turned into money they got to keep 100% of the fruits of their labor. Currently any coins minted by the Mint are delivered directly to the banking system and the only way you can get any of those coins is to have some check book money to purchase them with. Check book money (demand deposit) is only created via an extention of credit by a private commercial back (a debt). The only way you can move any coins into circulation is by someone purchasing those coins at face value. Coinage does not go onto the books of the government as a debt, but 100% of those coins go onto the people’s books as a debt.
That may be true for privately minted coins but those are not money because they have not been monetized and are not money. No borrowed necessary and no money created either.
Shame this couldn’t apply to money since its not really a product, right?
The reality is that we’ve never had a true gold standard in this country. The “gold standard” was just an act of deception by the banking system to make sure the people didn’t realize that not only did their money switch in quanity (loaned out at a minimum 5 receipts for everyone 1 dollar of gold) and quality (from an evidence of wealth to an evidence of indebtiness).
Debt money cannot compete with wealth money, but the banking system has a complete monopoly on the creatation of our general meduim of exchange as interest bearing loans. Wealth - vs - Debt. Freedom - vs - slavery. Honesty - vs - Fraud.
The only book of its kind that explains this is Modern Money Secrets.
Money has to be produced but it’s not a “good”. Money is just a tool to make barter simpler that should only be used to enhance fair trade.
and elimination of legal tender laws would only reinforce their monopoly, right?
It wouldn’t affect anything at all because all the banks loan you is some numbers in a checking account. The legal tender is just a portable book keeping entry you can carry around.