MoneyFromScratch

CommunityWikiBankIII

{very rough. please refactor, rebirth}

Inspiration

Exodus 7:12. And they every one cast down their rods, and they were turned into serpents: but Aaron’s rod devoured their rods.

Numbers 21:9 And Moses made a serpent of brass, and put it upon a pole, and it came to pass, that if a serpent had bitten any man, when he beheld the serpent of brass, he lived.

Definition and Goals

MoneyFromScratch is an experiment in understanding:

Traditional definition

Money is any good or token used by a society as a Medium Of Exchange, Store Of Value and Unit Of Account and maybe a Standard Of Deferred Payment. – http://en.wikipedia.org/wiki/Money

Medium of exchange

Any currency is a token system that ‘universalizes’ trade - so it is easy to exchange apples for eggs.

Store of value (Issuance)

Most currencies are not real Money because they are usually not a Store Of Value, where “Value” is defined a thing that meets an organic need or may be used (mixed with labor) to meet an organic need. Gold is not a Store Of Value because it cannot be used directly to meet organic needs.

http://en.wikipedia.org/wiki/Fiat_currency

US Federal Reserve Notes (for example) are not actually Money because they are backed only by a “promise to pay”.

1. The government issues a Treasury security. This is simply an IOU, a promise to pay the holder a specified sum of money on a particular date. In this example, let’s say the government issues $1,000,000 worth of bonds. Individual investors, pension funds, mutual funds, insurance agencies, banks, foreign government central banks, can all buy the bonds, effectively loaning money to the treasury. They do this to invest their money and receive interest in return. – http://en.wikipedia.org/wiki/Money_creation

Issuance

While it is legal for any community to issue it’s own currency, the US Government chooses to not do that. Because of a meeting on an island named Jekyll, the American people pay enormous interest payments to a collection of Private Bankers just for the fact that we decide to have currency in circulation.

The US government has decided to rent the right to issue currency (US Federal Reserve Notes) from the list of Private Bankers that comprise the Federal Reserve. This extremely bad situation has US paying interest on every Dollar in issue. We US citizens are paying a Rent to Private Bankers for the otherwise inalienable right of a community to create and issue it’s own currency. I believe this is against the US Constitution?

http://en.wikipedia.org/wiki/Federal_Reserve

http://en.wikipedia.org/wiki/Private_currency

MoneyFromScratch would limit issuance of the currency to the amount of Productive Sources controlled by the community (see PropertyLeft for a discussion about how to gain control through collective ownership).

Productive Sources are things like land, water, tools, ‘useful’ plants, buildings etc. that can be mixed with labor to fill needs for the local community.

A purely electronic token system with never paper or coin being minted will be much cheaper and with less security risk.

Unit of account

What is this?

Standard of deferred payment

What is this?

Some local research to draw from

AlternativeCurrency AlternativeMonetarySystems CashMoney CommunityWikiBank CommunityWikiBankII CommunityWikiBankIII CooperationFund CreationOfMoney DonateTimeOrMoney FreeGlobalTeleCommunication InvestmentWebOfTrust MicroPayment MoneyMoney TheSevenLawsOfMoney TimeIsMoney VirtualMoney VirtualMoneyDiscussion VirtualMoneyI WhatIsMoney WikiMoney WithoutMoney

Discussion

hmm, it’s not in my language, so it’s hard for me to handle well all this flashes of wit . but it’s a wiki, so i hope, we can do it step by step . first i think, money is for economy, what blood is for life . the interest of the banks make this blood run cold, so they are like serpents . they can strangle you or they can paralyse you with their poison . they can tempt you to spekulate, but most are on the wrong side with their speculations, so they lose their money . our currency looks like super speculations, but it’s a remedy against speculations, an antidote . if all pay with this currency, there is no more interest, no speculations . and yes, we might need some other page to discuss that (sic! :)).

Hey sigi, I hope one day to be apologizing for knowing more than one language. ;)

Thanks for starting this page. I hope we can keep it small and simple enough to work toward true comprehension.

in my opinion it is simple: we ask: what’s the ideal money (the best form of money you can think of) and then we make it .
we made it already . it’s our wiki bank . because it is, as you said, a purely electronic token system with never paper or coin being minted, the accounts are the real money . so we must find another way of coining it . and therefore i proposed on CommunityWikiBankIII: “we can define our currency as A (the sum of our currency is always A) . it’s now A and in 10 or 100 years it’s still A .”
the productive sources controlled by the community by now are 5715 pledges (exactly 5705 but that doesn’t matter) . so (if all pledges are paid) A is worth 2857.5 EUR or 3657.6 USD or 4114.8 CAD . if B is 0.5 A then B is worth 1428.75 EUR and so on .


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