[Apollia]

Dave Kaminski wrote:

I'm so surprised that a lot of people either a.) don't know this or b.) know it and don't care. It's shocking to see how many slaves willingly submit.

Definitely.

We need a change in action, a change in collective thought. No mere administrative change will be what we're looking for - we all need to be participants in the administration and we need to come together as a planet to work with our resources because unless everyone has a say (india, africa, south america, asia) people will be getting cheated.

Yes, probably true, I think.


escapee wrote:

Under such system, hyper centralization (Dictatorship and socialism ) of government and inflation will still be a potential problem for us to face. If you do not trust the bankers for controlling the money supply of the economy, you shouldn't trust the government officials as well because they are both human being.

I agree with that too.

Regarding inflation - I like Ron Paul's idea about permitting competition in currency as a way to discourage those in charge of minting money from debasing the currency through inflation: Statement Introducing the Free Competition in Currency Act

I believe what the world needs is a monetary system that is freed from government and bank's control - gold standard as suggested by Ron Paul.

Yes, I think it's definitely worth a try.

I think it would be great if a wide variety of different things were tried, even all at the same time, by many different currency creators (whether government or private).

The following is just one of doubtless many possible ideas, but, I think maybe it is really possible for a virtual currency backed by nothing to work. The economy of the virtual world Second Life, with the virtual currency of Linden $ (L$), seems to work quite well.

Inflation is seemingly controlled through having L$ "sinks" - charging for certain services people want and need, like classified ads, and image/animation/sound uploads, and taking the L$ paid for them out of circulation. Second Life Economic Statistics

Unless I'm mistaken, the exchange rate of Second Life seems generally very stable - every time I check it, it's around about L$265 per $1 USD.

The only problem is, the exchange rate seems to keep apace with the U.S. dollar, so the inflation of the dollar is affecting the L$ as well. But probably a virtual currency could be created that doesn't do that.

A combination of sound monetary system and free market will bring human civilization to new height.

I agree.

Thanks for all the links! I'll take a closer look at them later sometime...


Dan.Linehan wrote:

A psychic told me that President Obama will institute a new, credit based monetary system.

Just saying.

Really? What psychic? And what did he/she mean by "credit based"?

Best wishes,
Apollia