Quote:
Originally Posted by Rick Ronsavelle
We must state our objective- a pure, honest money system, with zero fakery or fraud. When I said the paper receipt is not to be considered as the money, I meant formally and legally. Taking a look at a warehouse receipt here:
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Money is still an abstraction of something whether of gold or paper or oil. It's how the priests of banking manage these abstractions against the least sophisticated among us - that has me far more concerned. The question I have is how changing what money is based on will necessarily eliminate bad practices, lending abuses, CDS, Bernie Madoff type "pyramids-schemes," or how monetary values can be manipulated by Wallstreet, media or government (ie not by straight market conditions or consumers).
I can see the argument that money backed by certain metals leads one to think that nations and bankers can't print, borrow or spend out of thin air what they do not have in gold bars sitting in some vault - and can't print off funny money on whim. I can ALSO see waves of angry old Kwan men, fist slamming the table in agreement, along with "get back to what's writtn the Bible, Con-stuh-too-sun." It seems like a starter fix.