robert searle wrote:
it can work..if not too much money is created by governments.
If the humans composing our governments were not so cowardly, we could have been issuing our own currency from the beginning and never gone into debt AT ALL. There is no reason for groups of people to enter into debt when they have all the Labor value they can commit toward each other as 'taxes' to achieve their 'public' goals. Debt can easily avoidable by *groups* of people if they can structure a reliable and usable way to exchange commitments. By what authority do the Private Banksters issue currency, and why has almost every city, state, nation on Earth relinquished that authority? Do we really believe corporations will have incentives to not over-issue? They don't even *print* the money anyway, they only *issue* it electronically. Issuance is a matter of holding down the 0- key after some non-0 digit. Gaaarrrr! The lack of careful thought and reconsideration of why we our drowning in debt is maddening for those of us that can see this is an insanely unfortunate and yet simultaneously unnecessary problem.