[P2P-F] Why we can afford Climate Change...

Thu Sep 22 17:13:09 CEST 2011

Tadit Anderson wrote:
> mask the reality that "credit" is debt by another name.

This is difficult to picture at first.

Try the movies:
"Money as Debt", "Secret of Oz".

> If currency is put into circulation on a debt-free basis
> by the sovereign government, the the private investors,
> including banks will not acquire the huge returns
> achieved for private interests by way of the debt basis
> of the issuance of currency.

In System terms, debt is a "resource leak", that draws
value out of the local economy to external entities.

> sustainability will be vastly better served by a fiat,
> asset based(aka debt/credit free) currency issued
> by a sovereign government.

Yes, while I imagine we purchase land and tools to
create small-scale Villages which are then sovereign
governments in their own right.

Here's a sketch of my thinking for a currency that is
backed by the Means of Production and Promises to
Labor from Workers or from guilds or unions of sorts.

----
Groups could issue what I've been calling the IOTA -
the Intra-Owner Trade Agreement which is backed by:

- Commitments of Sources: These is the physical assets
    needed to produce food and shelter for those Villagers.

- Commitments of Skills: These are the various kinds
    of goals that need to be accomplished within the Village.

The IOTA is invalid Unless both of these conditions are met.

--

The IOTA enforces the following constraints on the Sources:

- Product is Investor's Return: The Product is not sold*,
    because each Villager already owns the exact** amount
    of Product from their ownership in Sources.
* Surplus can be sold to those who own insufficient Sources.
** Predictions are never exact, but we can 'hover' nearby.
   Most Villagers will 'overcommit' as Insurance against low
   production seasons.

- Profit is Payer Investment: When Surplus is sold, to non-
    owners, the Profit must be treated as an Investment from
    that Payer - so that latecomers gain as much control as
    they are willing to Pay, and ultimately Work for.

----

Patrick Anderson
http://SocialSufficiencyCoalition.BlogSpot.com