Local currencies
When talking about banking I usually point out that there is no need for a government controlled central bank. “It would be total chaos!” is an usual response. This of course is utterly ignorant to history, the existence of different forms of payment (just think of credit cards), foreign currencies and local currencies.
Local currencies
As the latter is hardly known, your homework today is to look through this wikipedia article and learn about the wonderful creativity and possible economic benefits when people are let alone by centralized bureaucracy.
1 Kommentar
Schreibe einen Kommentar!
Jct: Best of all, when the local tauchsring currency is pegged to the Time Standard of Money (how many dollars/hour child labor) Hours earned locally can be intertraded with other timebanks globally!
In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours.
U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture.
See my banking systems engineering analysis at http://youtube.com/kingofthepaupers