I believe that this two part series, yesterday and today, are really worth reading, Can't wait till tomorrow. Simple and very CLEAR. Enjoy, Ken Also, see the references to three of his books.
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The Guernsey system was interest free bonds that were local and were fully retired (paid) based on the productivity of the investment. It was a tool for the community, not a top down apex.
Regarding gold, who has it??? Answer, it is concentrated among the elite.
True economics points to the productivity of the people above commodities.
Speaking of commodities, WATER seems more important than gold, ask California.
How do you explain Japan becoming such a large economy without gold, or many resources period?
How do you explain the poor economy of Ghana with the second highest gold producing mines?
Because it's because of the people, government, culture, in our case innovation and risk taking.
Yes, natural resources help a great deal of course. Our present system destroys resources.
Watch the Bill Still video with an open mind.
Bill has also produced three feature-length documentaries, including "The Money Masters", which is one of the most watched films in Internet history. "The Secret of Oz" won the 2010 award for Best Documentary at the Beloit International Film Festival.
"The Money Masters"
https://www.youtube.com/watch?v=jjUtBGqLAxY
"The Secret of Oz"
https://www.youtube.com/watch?v=iDtBSiI13fE
Such a great article,I really like this article.
Thank you so much for sharing this. Have a great day !
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Here's an interesting read on the subject of money, a little repetitive but sometimes you need to be.
There is a difference between Money and Credit.
It's the 3rd article down....Stop the Con Con - Con
https://www.youtube.com/watch?v=R2-49Tn4Cs0&html5=1
Money, Justice, & Freedom
Here's what he says the answer is,
"Simply have the government issue it (money) without debt., and tightly control the quantity"Tightly control the quantity.... hah.. that's a laugh. Like congress would be better at this than the FED, or any other group of persons. Instead of giving money to the banks via QE, congress would find ways to give it to their favored constituencies... Gold is useful because it cannot be printed.
Intrinsic value is a perceptual thing, to say that the unbacked notes had no intrinsic value is in error as their continued acceptance as a medium of exchange supplied all the Intrinsic value the unbacked notes needed to continue in circulation.
The only value any money has lies in its acceptance as a medium of exchange and its only worth is found in what it can buy. This holds true for all money, regardless the materials used in its construct, to include gold.
The U.S. has a legal tender monetary system so it's really easy to know exactly what the money is, just look at the law, the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."
An interesting thing about U.S. legal tender is that, it is neither borrowed or spent into circulation. It only gets into circulation via public demand for the notes and coin.