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03-03-2013, 05:19 AM #21Senior Member
A world without money
Originally Posted by Txbizpro
Originally Posted by Txbizpro
Originally Posted by Txbizpro
Originally Posted by Txbizpro
Speaking on the individual level? No, not everyone's debt can be repaid. You cannot repay a pool of principal and interest from an overall supply containing just principal.
A better question to ask the ones at the top:
1 - Why are our governments choosing to borrow this money, at interest, from private banking establishments when it could just create all the interest free money it needs for itself? (For the record, fiat (government issued money) only makes up about 5% of total overall money supply)
2 - Why should we create this money as debt at all? How come we cannot create money that will circulate permanently and does not require being perpetually RE-borrowed at interest in order for the money to exist in the first place? It should be reminded that a money system cannot possibly survive from perpetually accelerating growth as the basis to build and sustain an economy. Should be clear that this perpetual acceleration of growth and sustainability go together like oil and water.
What we should ask ourselves:
What about our current monetary system makes us, and the economy, so subject and needed on perpetual growth? What HAS to change in order to allow the reasonable creation of a self sustainable economy?
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10-17-2013, 10:39 PM #22Member
A world without money
Seems to me that money, ultimately, is originally a marker of work done and a common denominator of exchange. It is far easier and more efficient to trade standardized coinage for a farmer's bacon than to (1) figure out that the farmer wants/needs some nails to complete a new pig pen, then (2) find someone who has some excess nails, then (3) figure out what THEY need in exchange for the nails.
Historically, problems with money arise when (1) people no longer deal directly with sources of product, but deal with service-providers/middlemen (wholesalers, distributors, retailers, etc.) who need to profit from their transactions (thus driving up product cost) to remain in business; and (2) banks that not only charge interest on the money they loan (a legitimate function) but also INFLATE the money supply by multiple loans which exceed their supply of money (causing inflation).
In addition, the whole concept of money will shortly, possibly within a decade or two, become largely impossible. Reasons: automation, 3D printing, robotics, all of which will result in MASSIVE (90%+) unemployment, but essentially "free" or dirt cheap goods in many areas.
When automated machinery becomes self-repairing, or gets made and repaired by OTHER machinery, the labor cost essentially becomes zero.
When raw materials and food are mined/farmed by robots made by robots made by robots, the materials cost essentially becomes zero.
When products, from clothing to cars to foods, are created by 3D printers running on "boutique" software (think the apps currently being produced for smart phones) the middlemen start to disappear.
The answer? I really don't know. Perhaps something like the "Social Credit" scheme discussed in Wikipedia. Social credit - Wikipedia, the free encyclopedia
Just my ponderings. YMMV
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