[P2P-F] A Response to Criticism on TFE.

Thu Nov 17 16:07:11 CET 2011

The following comes from the main Occupy Movement site. ..I have not included here the original email which prompted my reply..but it should be self-evident as to what it was about...

RE. TFE. 
Chris,
Thank you for your comment.I am quite used to criticism. Ofcourse, with any new paradigm there are always dangers….I make the following points.
i) The benefits far outweigh the risks. The social, economic, and political implications would be colossal. It would mean notably that global sustainability could be speeded up as never before in human history. You cannot do that with the “small is beautiful” approach……
ii)To some extent, TFE can be decentralised. For example in America the states could have their own Electronic Transaction Monitoring systems. Whether one likes it, or not accurate monitoring of “cosummable resources” will be increasingly urgent in a finite world.
iii) The introduction of ETM comes later on if the Facilitation Banking system is passed into law. There is no mad rush for the former, and could be introduced via a referendum. Yet, it would spell the end of capitalism as we understand it, and there would be greater moves towards automation (like the Venus Project). Ultimately, in a democratic context a more advanced society may emerge going beyond money, and wage slavery. 
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	* Robert1p said 23 hours, 47 minutes ago: 
I forgot to add that by special fiat, ETM would be very difficult to hack, or damage electronically because there would always be the money to pay for the best brains to avoid serious breaches of security. 
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