How About A "Complimentary" Currency?
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http://commongoodbank.com/localcurrency/index.html
Type of Content: Article Imbedded in this "Common Good Finance" concept is a local currency credit system. A currency "based on the stable, inflation-free value of some basic local commodities, benchmarked regularly against the dollar." And that is only a portion of what the whole concept proposes. It is comprised of an affiliate structure that includes a for-profit, depositor-owned bank. The implications are vast and perhaps Break the Matrix could benefit by studying the model. Read »
Created 13 weeks 3 days ago
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we don't need another one, no matter how socially conscious they claim they will be. If you study banking from an Austrian Economic perspective, you'll see that intangible credit systems that multiply actually deposits into fiduciary media is exactly what is destroying the dollar and our economy.
If you want to fix our banking system, then set up a bank that is 100% reserve ratio for all demand deposits. This would forbid concurrent use of deposits and fuel investment through REAL savings, which is the only way to avoid the business cycle and inflation.
Alternatively, peer to peer lending (like Prosper.com) also finance loans using real savings, they just don't (yet) offer other banking services. A person can make better returns (by investing in loans) than they can by depositing money at a bank, help someone else out, reduce the amount of deposits banks use to inflate, and keep someone from taking out a credit expansion loan.