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    If you can prove your theory of monetary relativity, I will applaud
    you. <br>
    <br>
    <pre class="moz-signature" cols="72">Thomas H. Greco, Jr.
<a class="moz-txt-link-abbreviated" href="mailto:thg@mindspring.com">thg@mindspring.com</a>
Mobile phone: +66 852 139 650 Thailand
Website: <a class="moz-txt-link-freetext" href="http://www.Reinventingmoney.com">http://www.Reinventingmoney.com</a>
Blogs: Beyond Money: <a class="moz-txt-link-freetext" href="http://beyondmoney.net">http://beyondmoney.net</a>
Tom's News and Views: <a class="moz-txt-link-freetext" href="http://tomazgreco.wordpress.com">http://tomazgreco.wordpress.com</a>
Photo gallery: <a class="moz-txt-link-freetext" href="http://picasaweb.google.com/tomazhg">http://picasaweb.google.com/tomazhg</a>
Skype/Twitter name: tomazgreco
My latest book, "The End of Money and the Future of Civilization" from
Chelsea Green Publishers is now in print and can be ordered from Chelsea
Green Publishing or Amazon.com.
</pre>
    <br>
    On 02/10/2011 2:22 AM, St�phane Laborde wrote:
    <blockquote cite="mid:4D53AE66.4030107@yahoo.fr" type="cite">
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      Le 10/02/2011 09:37, Thomas Greco a �crit�:
      <blockquote cite="mid:4D53A3E4.2090207@mindspring.com" type="cite">
        <meta content="text/html; charset=windows-1252"
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        I've only taken a cursory look at the website but it seems that
        there is no solid underlying rationale that assures <b>reciprocity</b>,
        which is basic objective of any monetary system/currency--give
        as much value as you get over a reasonably short period of time.<br>
      </blockquote>
      <br>
      This means nothing as value is totally relative to any individual.<br>
      <br>
      Neither Leonard da Vinci nor Albert Einstein has received such a
      "recyprocity". It should have been impossible to any member of
      their community as their GIFT of VALUE had no common mesure, and
      was not understood.<br>
      <br>
      This is why this false idea conduce all pre-relativistic thought
      into crisis wall. By not understanding FREEDOM and CREATIVITY, as
      basic and fundamental element of any economy.<br>
      <br>
      Creativity has no mesure.<br>
      <br>
      Exchange is only an agreement, not a common mesure.<br>
      <br>
      <blockquote cite="mid:4D53A3E4.2090207@mindspring.com" type="cite">
        <br>
        I am an advocate of a universal dividend but it is not something
        that should be incorporated into an exchange (money) system. <br>
        Any dividend must be allocated out of the aggregate production
        and accumulated wealth of a community, which is something that
        is NOT reflected in the supply of exchange media (money).<br>
      </blockquote>
      <br>
      Missundestanding between VALUE (production) which is an INDIVIDUAL
      MESURE, and MONEY, which is a COMMON (community) agreement to
      allow exchanges.<br>
      <br>
      I don't agree to any "production" you could define, neither
      millions of people. What you define as "production" is
      "destruction" for other people, and no one can define it but
      denying FREEDOM of choice of what is value and what it is not.<br>
      <br>
      <blockquote cite="mid:4D53A3E4.2090207@mindspring.com" type="cite">
        <br>
        Anyone who has read my latest book, <i>The End of Money</i>,
        should realize that the amount of money outstanding (total
        credits or debits in a credit clearing system) is determined by
        the amount of trading, not by the number of participants. It is
        the total amount of credit that has been extended by sellers to
        buyers that has not yet been cleared by those buyers having
        reciprocated by selling. The supply of "money" (credit)
        outstanding, therefore, is automatically determined by the needs
        of the traders, increasing and decreasing in accordance with
        transaction (economic) activity.<br>
      </blockquote>
      <br>
      I deny ANY justification of creating money by CREDIT.<br>
      <br>
      This is contradictory with RELATIVE MONEY THEORY. Relative Money
      Theory deny the right to any individual to CREATE money by credit.
      Relative Money Theory is only compatible with 100% monney created
      by universal dividend as only acceptable basis.<br>
      <br>
      <blockquote cite="mid:4D53A3E4.2090207@mindspring.com" type="cite">
        There must, of course be limits on the amount of credit that can
        be granted to each account, those limits being determined mainly
        by the sales history of each account.. <br>
      </blockquote>
      <br>
      This denying DEATH of people as liberating debts, and so create
      money for nothing.<br>
      <br>
      Births and Deaths are not understood by classical analyses. Their
      ignore deaths, and deny the right to be born. They don't
      understand what is a discrete flow.<br>
      <br>
      Eternel ignorance of reality of births and deaths is the basis of
      all generations crisis since 10 000 years.<br>
      <br>
      <blockquote cite="mid:4D53A3E4.2090207@mindspring.com" type="cite">
        <br>
        E.C. Riegel is quite eloquent in expressing the fundamental
        principles. I wish more people would read his books.<br>
        <br>
        <pre class="moz-signature" cols="72">Thomas H. Greco, Jr.
<a moz-do-not-send="true" class="moz-txt-link-abbreviated" href="mailto:thg@mindspring.com">thg@mindspring.com</a>
Mobile phone: +66 852 139 650 Thailand
Website: <a moz-do-not-send="true" class="moz-txt-link-freetext" href="http://www.Reinventingmoney.com">http://www.Reinventingmoney.com</a>
Blogs: Beyond Money: <a moz-do-not-send="true" class="moz-txt-link-freetext" href="http://beyondmoney.net">http://beyondmoney.net</a>
Tom's News and Views: <a moz-do-not-send="true" class="moz-txt-link-freetext" href="http://tomazgreco.wordpress.com">http://tomazgreco.wordpress.com</a>
Photo gallery: <a moz-do-not-send="true" class="moz-txt-link-freetext" href="http://picasaweb.google.com/tomazhg">http://picasaweb.google.com/tomazhg</a>
Skype/Twitter name: tomazgreco
My latest book, "The End of Money and the Future of Civilization" from
Chelsea Green Publishers is now in print and can be ordered from Chelsea
Green Publishing or Amazon.com.
</pre>
        <br>
        On 02/09/2011 12:22 PM, Sepp Hasslberger wrote:
        <blockquote
          cite="mid:E17666BC-4760-4B1E-A2A4-C82AF87ACE95@lastrega.com"
          type="cite">Dear Michel, Stephane,�
          <div><br>
          </div>
          <div>I have looked at the English introduction pages,
            unfortunately my French is not good enough to understand
            something fairly technical and complex.�</div>
          <div><br>
          </div>
          <div>While I am happy to see that there is a universal
            dividend incorporated into this money system, I am not sure
            that it will work. As far as I can understand, there is
            monthly money creation by all members of the system, and
            with time the monetary mass will grow, actually the graphic
            for growth of monetary mass assuming a fixed number of
            members on this page</div>
          <div><br>
          </div>
          <div><a moz-do-not-send="true"
              href="http://www.open-udc.org/en/money_rules">http://www.open-udc.org/en/money_rules</a></div>
          <div><br>
          </div>
          <div>shows that there is a rather steep increase of the
            monetary mass, all serving the same number of members. This
            means that the currency will be inflationary by design. More
            money for the same amount of business means that products,
            or anything that is exchanged in this economy, will come to
            cost more and more as time passes. One could also say that
            each unit of money will be worth less and less as time
            passes.�This is not a good basis for a monetary system.�</div>
          <div><br>
          </div>
          <div>It would be rather �easy however, to engineer the system
            for price stability. All that would need to be done is for
            the money to be created with a date of expiry. Each unit on
            monetary value, once it has been created, would need to
            start losing some of its nominal value every month, until it
            expires (has no more value) at the end of a period to be
            determined. This would make sure that the monetary mass
            could be stable in the case of a fixed number of members.
            After the period of initialization, money created equals
            money lost to expiry. No inflation of prices would ensue,
            because the monetary mass stays constant. Such a mechanism
            would also mean that the monetary mass could grow in line
            with a growing number of members. The total monetary mass
            would thus depend on the number of participants, and prices
            in the system would tend to be stable.�</div>
          <div><br>
          </div>
          <div>Without such a mechanism, I am afraid the system would
            not be workable. Money, to be used for real commerce, should
            have reasonably stable value over time. Only by limiting the
            total monetary mass in accordance with the number of
            members, can this goal be reached.�</div>
          <div><br>
          </div>
          <div>Kind regards</div>
          <div>Sepp</div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
            <div>
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                    Helvetica; font-size: medium; font-style: normal;
                    font-variant: normal; font-weight: normal;
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                    white-space: normal; widows: 2; word-spacing: 0px;"><span
                      class="Apple-style-span" style="border-collapse:
                      separate; color: rgb(0, 0, 0); font-family:
                      Helvetica; font-size: medium; font-style: normal;
                      font-variant: normal; font-weight: normal;
                      letter-spacing: normal; line-height: normal;
                      orphans: 2; text-indent: 0px; text-transform:
                      none; white-space: normal; widows: 2;
                      word-spacing: 0px;"><span class="Apple-style-span"
                        style="border-collapse: separate; color: rgb(0,
                        0, 0); font-family: Helvetica; font-size:
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                        normal; font-weight: normal; letter-spacing:
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                        text-indent: 0px; text-transform: none;
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                          orphans: 2; text-indent: 0px; text-transform:
                          none; white-space: normal; widows: 2;
                          word-spacing: 0px;"><span
                            class="Apple-style-span"
                            style="border-collapse: separate; color:
                            rgb(0, 0, 0); font-family: Helvetica;
                            font-size: medium; font-style: normal;
                            font-variant: normal; font-weight: normal;
                            letter-spacing: normal; line-height: normal;
                            orphans: 2; text-indent: 0px;
                            text-transform: none; white-space: normal;
                            widows: 2; word-spacing: 0px;"><span
                              class="Apple-style-span"
                              style="border-collapse: separate; color:
                              rgb(0, 0, 0); font-family: Helvetica;
                              font-size: medium; font-style: normal;
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                              widows: 2; word-spacing: 0px;"><span
                                class="Apple-style-span"
                                style="border-collapse: separate; color:
                                rgb(0, 0, 0); font-family: Helvetica;
                                font-size: medium; font-style: normal;
                                font-variant: normal; font-weight:
                                normal; letter-spacing: normal;
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                                text-indent: 0px; text-transform: none;
                                white-space: normal; widows: 2;
                                word-spacing: 0px;"><span
                                  class="Apple-style-span"
                                  style="border-collapse: separate;
                                  color: rgb(0, 0, 0); font-family:
                                  Helvetica; font-size: medium;
                                  font-style: normal; font-variant:
                                  normal; font-weight: normal;
                                  letter-spacing: normal; line-height:
                                  normal; orphans: 2; text-indent: 0px;
                                  text-transform: none; white-space:
                                  normal; widows: 2; word-spacing: 0px;"><span
                                    class="Apple-style-span"
                                    style="border-collapse: separate;
                                    color: rgb(0, 0, 0); font-family:
                                    Helvetica; font-size: medium;
                                    font-style: normal; font-variant:
                                    normal; font-weight: normal;
                                    letter-spacing: normal; line-height:
                                    normal; orphans: 2; text-indent:
                                    0px; text-transform: none;
                                    white-space: normal; widows: 2;
                                    word-spacing: 0px;"><span
                                      class="Apple-style-span"
                                      style="border-collapse: separate;
                                      color: rgb(0, 0, 0); font-family:
                                      Helvetica; font-size: medium;
                                      font-style: normal; font-variant:
                                      normal; font-weight: normal;
                                      letter-spacing: normal;
                                      line-height: normal; orphans: 2;
                                      text-indent: 0px; text-transform:
                                      none; white-space: normal; widows:
                                      2; word-spacing: 0px;"><span
                                        class="Apple-style-span"
                                        style="border-collapse:
                                        separate; color: rgb(0, 0, 0);
                                        font-family: Helvetica;
                                        font-size: medium; font-style:
                                        normal; font-variant: normal;
                                        font-weight: normal;
                                        letter-spacing: normal;
                                        line-height: normal; orphans: 2;
                                        text-indent: 0px;
                                        text-transform: none;
                                        white-space: normal; widows: 2;
                                        word-spacing: 0px;">
                                        <div style="margin: 0px; font:
                                          16px Helvetica; min-height:
                                          19px;"><span
                                            class="Apple-style-span"
                                            style="font-size: medium;"><font
                                              class="Apple-style-span"
                                              size="4"><span
                                                class="Apple-style-span"
                                                style="font-size: 16px;">
                                                <div style="margin: 0px;
                                                  font-size: 20px;"><b><i>"The


                                                      individual is
                                                      supreme and finds
                                                      the way through
                                                      intuition"</i></b></div>
                                                <div style="margin: 0px;
                                                  font: 19px Helvetica;
                                                  min-height: 19px;"><br>
                                                </div>
                                                <div style="margin: 0px;
                                                  font-size: 24px;"><span
class="Apple-style-span" style="font-size: 20px;"><a
                                                      moz-do-not-send="true"
href="http://www.newmediaexplorer.org/sepp/">http://www.newmediaexplorer.org/sepp/</a></span>��</div>
                                                <div style="margin: 0px;
                                                  font-size: 20px;"><a
                                                    moz-do-not-send="true"
href="http://www.laleva.org">http://www.laleva.org</a></div>
                                                <div style="margin: 0px;
                                                  font: 23px Helvetica;
                                                  min-height: 19px;"><span
class="Apple-style-span" style="font-size: 20px;"><a
                                                      moz-do-not-send="true"
href="http://blog.hasslberger.com/">http://blog.hasslberger.com/</a></span>�</div>
                                                <div style="margin: 0px;
                                                  font: 20px Helvetica;
                                                  min-height: 19px;"><a
moz-do-not-send="true" href="http://www.facebook.com/hasslberger">http://www.facebook.com/hasslberger</a></div>
                                                <div style="margin: 0px;
                                                  font: 20px Helvetica;
                                                  min-height: 19px;">
                                                  <div><a
                                                      moz-do-not-send="true"
href="http://twitter.com/healthsupreme">http://twitter.com/healthsupreme</a></div>
                                                </div>
                                                <div style="margin: 0px;
                                                  font: 20px Helvetica;
                                                  min-height: 19px;"><br>
                                                </div>
                                                <div style="margin: 0px;
                                                  font: 20px Helvetica;
                                                  min-height: 19px;">.</div>
                                              </span></font></span></div>
                                      </span></span></span></span></span></span></span></span></span></span></span></span></div>
            </div>
            <br>
            <div>
              <div>On Feb 8, 2011, at 7:05 AM, Michel Bauwens wrote:</div>
              <br class="Apple-interchange-newline">
              <blockquote type="cite">Many thanks Stephane,<br>
                <br>
                I have created a overview page at <a
                  moz-do-not-send="true"
                  href="http://p2pfoundation.net/Open-Universal_Digital_Currency_Project">http://p2pfoundation.net/Open-Universal_Digital_Currency_Project</a><br>
                <br>
                Dear Sepp, could you have a look, present this project
                and eventually put it into context of other projects in
                this related space?<br>
                <br>
                I think the innovative part here is that it is directly
                linked to the mechanism of the universal dividend, and
                this is why it's particularly worth supporting,<br>
                <br>
                Michel<br>
                <br>
                <div class="gmail_quote">On Tue, Feb 8, 2011 at 12:45
                  PM, St�phane Laborde <span dir="ltr">&lt;<a
                      moz-do-not-send="true"
                      href="mailto:laborde_stephane@yahoo.fr">laborde_stephane@yahoo.fr</a>&gt;</span>
                  wrote:<br>
                  <blockquote class="gmail_quote" style="margin: 0pt 0pt
                    0pt 0.8ex; border-left: 1px solid rgb(204, 204,
                    204); padding-left: 1ex;">
                    <div bgcolor="#ffffff" text="#000000"> You can
                      present Open-UDC with :<br>
                      <br>
                      General presentation : <a moz-do-not-send="true"
                        href="http://www.open-udc.org/en/start"
                        target="_blank">http://www.open-udc.org/en/start</a><br>
                      <br>
                      And Money Rules : <a moz-do-not-send="true"
                        href="http://www.open-udc.org/en/money_rules"
                        target="_blank">http://www.open-udc.org/en/money_rules</a><br>
                      <br>
                      You can add that Open-UDC go with a a progressive
                      goal following three steps :<br>
                      <br>
                      1) Implementation with centralised server<br>
                      2) Implementation with hierarchical organisation<br>
                      3) Implementation with P2P System<br>
                      <br>
                      Money rules are a money system named Open-UDC. The
                      technical system in charge of the money rules is
                      independant of Open-UDC and named Open-UDS.<br>
                      <pre cols="72">St�phane Laborde
9, rue Ganneron, 75018 PARIS
Tel. 09 54 87 03 18
Mobile : 06 64 42 25 99</pre>
                      <br>
                      Le 08/02/2011 06:36, Michel Bauwens a �crit�:
                      <blockquote type="cite">
                        <div>
                          <div class="h5">Cher Stephane,<br>
                            <br>
                            If you have any non-technical text on this,
                            I'd like to announce it on the p2p
                            foundation blog,<br>
                            <br>
                            Un grand merci!<br>
                            <br>
                            Michel<br>
                            <br>
                            <div class="gmail_quote">On Tue, Feb 8, 2011
                              at 12:34 PM, Michel Bauwens <span
                                dir="ltr">&lt;<a moz-do-not-send="true"
                                  href="mailto:michelsub2004@gmail..com"
                                  target="_blank">michelsub2004@gmail.com</a>&gt;</span>
                              wrote:<br>
                              <blockquote class="gmail_quote"
                                style="margin: 0pt 0pt 0pt 0.8ex;
                                border-left: 1px solid rgb(204, 204,
                                204); padding-left: 1ex;">didn't know
                                that one! will definitely check out and
                                add to <a moz-do-not-send="true"
                                  href="http://p2pfoundation.net/Category:Money"
                                  target="_blank">http://p2pfoundation.net/Category:Money</a>,<br>
                                <font color="#888888"><br>
                                  Michel</font>
                                <div>
                                  <div><br>
                                    <br>
                                    <div class="gmail_quote">On Tue, Feb
                                      8, 2011 at 12:29 PM, olivier auber
                                      <span dir="ltr">&lt;<a
                                          moz-do-not-send="true"
                                          href="mailto:olivierauber2@gmail.com"
                                          target="_blank">olivierauber2@gmail.com</a>&gt;</span>
                                      wrote:<br>
                                      <blockquote class="gmail_quote"
                                        style="margin: 0pt 0pt 0pt
                                        0.8ex; border-left: 1px solid
                                        rgb(204, 204, 204);
                                        padding-left: 1ex;">Ok!<br>
                                        <br>
                                        J'oubliais, La Th�orie Relative
                                        de la Monnaie (TRM) est la base
                                        du d�veloppement du <br>
                                        <h1>Open-Universal Digital
                                          Currency project</h1>
                                        <a moz-do-not-send="true"
                                          href="http://www.open-udc.org/en/start"
                                          target="_blank">http://www.open-udc.org/en/start</a><br>
                                        <br>
                                        Et �a c'est en anglais, entre
                                        autres...
                                        <div>
                                          <div><br>
                                            <br>
                                            Olivier<br>
                                            <br>
                                            <div class="gmail_quote">2011/2/8


                                              Michel Bauwens <span
                                                dir="ltr">&lt;<a
                                                  moz-do-not-send="true"
href="mailto:michelsub2004@gmail.com" target="_blank">michelsub2004@gmail.com</a>&gt;</span><br>
                                              <blockquote
                                                class="gmail_quote"
                                                style="margin: 0pt 0pt
                                                0pt 0.8ex; border-left:
                                                1px solid rgb(204, 204,
                                                204); padding-left:
                                                1ex;">thanks a lot
                                                Olivier, if you hear
                                                from the english
                                                translation at some
                                                point, thanks for
                                                letting me know!
                                                <div>
                                                  <div><br>
                                                    <br>
                                                    <div
                                                      class="gmail_quote">On


                                                      Tue, Feb 8, 2011
                                                      at 12:19 PM,
                                                      olivier auber <span
                                                        dir="ltr">&lt;<a
moz-do-not-send="true" href="mailto:olivierauber2@gmail.com"
                                                          target="_blank">olivierauber2@gmail.com</a>&gt;</span>
                                                      wrote:<br>
                                                      <blockquote
                                                        class="gmail_quote"
                                                        style="margin:
                                                        0pt 0pt 0pt
                                                        0.8ex;
                                                        border-left: 1px
                                                        solid rgb(204,
                                                        204, 204);
                                                        padding-left:
                                                        1ex;">Bonjour
                                                        matinal Michel,<br>
                                                        <br>
                                                        Sur ce sujet,
                                                        j'attire ton
                                                        attention sur un
                                                        auteur fran�ais
                                                        � l'origine
                                                        d'une tr�s
                                                        int�ressante
                                                        "th�orie
                                                        relative de la
                                                        monnaie" qui
                                                        permet de
                                                        calculer tr�s
                                                        exactement
                                                        diff�rentes
                                                        choses,
                                                        notamment
                                                        l'expansion de
                                                        la masse
                                                        mon�taire
                                                        conduisant � une
                                                        �conomie
                                                        durable, ainsi
                                                        que le montant
                                                        du Dividende
                                                        Universel qui
                                                        serait le
                                                        vecteur de cette
                                                        expansion.<br>
                                                        <br>
                                                        Il s'appelle
                                                        St�phane
                                                        Laborde.<br>
                                                        <br>
                                                        Le livre est ici
                                                        : <a
                                                          moz-do-not-send="true"
href="http://www.creationmonetaire.info/2010/11/theorie-relative-de-la-monnaie-10.html"
target="_blank">http://www.creationmonetaire.info/2010/11/theorie-relative-de-la-monnaie-10.html</a><br>
                                                        Le blog l� : <a
moz-do-not-send="true" href="http://www.creationmonetaire.info/"
                                                          target="_blank">http://www.creationmonetaire.info/</a><br>
                                                        <br>
                                                        Malheureusement,
                                                        tout cela
                                                        n'existe qu'en
                                                        fran�ais pour le
                                                        moment.<br>
                                                        Un traduction en
                                                        anglais est en
                                                        cours, je crois.<br>
                                                        <br>
                                                        Amicalement<br>
                                                        <br>
                                                        Olivier<br>
                                                        <br>
                                                        <br>
                                                        <br>
                                                        <br>
                                                        <br>
                                                        <div
                                                          class="gmail_quote">2011/2/8



                                                          Michel Bauwens
                                                          <span
                                                          dir="ltr">&lt;<a
moz-do-not-send="true" href="mailto:michelsub2004@gmail.com"
                                                          target="_blank">michelsub2004@gmail.com</a>&gt;</span><br>
                                                          <blockquote
                                                          class="gmail_quote"
                                                          style="margin:
                                                          0pt 0pt 0pt
                                                          0.8ex;
                                                          border-left:
                                                          1px solid
                                                          rgb(204, 204,
                                                          204);
                                                          padding-left:
                                                          1ex;">
                                                          <div>
                                                          <div> <br>
                                                          Dear Sepp,<br>
                                                          <br>
                                                          because the
                                                          discussion is
                                                          largely
                                                          technical,
                                                          this is all I
                                                          can do, but
                                                          perhaps you
                                                          can add an
                                                          extra comment?<br>
                                                          <br>
                                                          also, if you
                                                          are in contact
                                                          with Marc,
                                                          please give
                                                          him a chance
                                                          to say
                                                          something
                                                          about the
                                                          evolution of
                                                          the bibo
                                                          project since
                                                          december 2009,<br>
                                                          <br>
                                                          Michel<br>
                                                          <div>
                                                          <div><br>
                                                          </div>
                                                          </div>
                                                          <p><a
                                                          moz-do-not-send="true"
href="http://blog.p2pfoundation.net/?p=13869" rel="bookmark"
                                                          title="Permanent
                                                          Link to An
                                                          update on
                                                          BIBO,
                                                          financial
                                                          stability
                                                          standards, and
                                                          the debt-virus
                                                          hypothesis"
                                                          target="_blank"><br>
                                                          </a></p>
                                                          <img
                                                          moz-do-not-send="true"
src="x-msg://159/" alt="photo of Michel Bauwens" align="left">
                                                          <div>Michel
                                                          Bauwens</div>
                                                          <div>16th
                                                          February 2011</div>
                                                          <br>
                                                          <p>In December
                                                          2009, Sepp
                                                          Hasslberger <a
moz-do-not-send="true">introduced to us</a> Bibo, a proposed standard
                                                          for stable
                                                          currencies,
                                                          that would
                                                          replace the
                                                          current
                                                          inherently
                                                          unstable
                                                          banking money
                                                          system.</p>
                                                          <p>This
                                                          article has
                                                          become our
                                                          most comment
                                                          rich article,
                                                          in particular
                                                          through a
                                                          recurring
                                                          debate between
                                                          one of the
                                                          Bibo
                                                          co-authors
                                                          Marc, and
                                                          Ardeshir
                                                          Mehta.</p>
                                                          <p>Ardeshir
                                                          has written an
                                                          article that
                                                          challenges one
                                                          of the main
                                                          points of
                                                          monetary
                                                          reformers,
                                                          i.e. that the
                                                          current system
                                                          leads to the
                                                          infinite
                                                          creation of
                                                          debt through
                                                          compound
                                                          interest.</p>
                                                          <p>You can
                                                          find it <a
                                                          moz-do-not-send="true"
href="http://homepage.mac.com/ardeshir/DebunkingTheDebt-VirusHypothesis.html"
target="_blank">here</a>.</p>
                                                          <p>The
                                                          context:</p>
                                                          <p><i>�Currently,


                                                          most if not
                                                          all money is
                                                          loaned into
                                                          existence by
                                                          banks, and is
                                                          thus based on
                                                          interest-bearing


                                                          debt. There is
                                                          no question
                                                          that neither
                                                          interest nor
                                                          debt-based
                                                          money are good
                                                          for society,
                                                          and I have
                                                          written
                                                          denouncing
                                                          both debt and
                                                          interest
                                                          elsewhere.
                                                          However, there
                                                          is a fairly
                                                          common thesis,
                                                          based on the
                                                          fact that
                                                          money is
                                                          loaned into
                                                          existence as
                                                          interest-bearing
                                                          debt, that if
                                                          new loans are
                                                          not
                                                          continually
                                                          being issued
                                                          in
                                                          ever-increasing
                                                          amounts,
                                                          enough money
                                                          will not be
                                                          created to pay
                                                          the interest
                                                          on existing
                                                          loans; and as
                                                          a result, at
                                                          least some
                                                          those loans
                                                          will be
                                                          defaulted
                                                          upon,
                                                          resulting in
                                                          inevitable
                                                          foreclosures.
                                                          �</i></p>
                                                          <br
                                                          clear="all">
                                                          <font
                                                          color="#888888"><br>
                                                          -- <br>
                                                          P2P
                                                          Foundation: <a
moz-do-not-send="true" href="http://p2pfoundation.net/" target="_blank">http://p2pfoundation.net</a>�
                                                          - <a
                                                          moz-do-not-send="true"
href="http://blog.p2pfoundation.net/" target="_blank">http://blog.p2pfoundation.net</a>
                                                          <br>
                                                          <br>
                                                          Connect: <a
                                                          moz-do-not-send="true"
href="http://p2pfoundation.ning.com/" target="_blank">http://p2pfoundation.ning.com</a>;
                                                          Discuss: <a
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                                                          <br>
                                                          <br>
                                                          <br>
                                                          </font><br>
                                                          </div>
                                                          </div>
_______________________________________________<br>
                                                          P2P Foundation
                                                          - Mailing list<br>
                                                          <a
                                                          moz-do-not-send="true"
href="http://www.p2pfoundation.net/" target="_blank">http://www.p2pfoundation.net</a><br>
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                                                          <br>
                                                          </blockquote>
                                                        </div>
                                                        <font
                                                          color="#888888"><br>
                                                          <br
                                                          clear="all">
                                                          <br>
                                                          -- <br>
                                                          Olivier Auber<br>
                                                          0675038880<br>
                                                        </font></blockquote>
                                                    </div>
                                                    <br>
                                                    <br clear="all">
                                                    <br>
                                                    -- <br>
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                                                  </div>
                                                </div>
                                              </blockquote>
                                            </div>
                                            <br>
                                            <br clear="all">
                                            <br>
                                          </div>
                                        </div>
                                        <font color="#888888">-- <br>
                                          Olivier Auber<br>
                                          0675038880<br>
                                        </font></blockquote>
                                    </div>
                                    <br>
                                    <br clear="all">
                                    <br>
                                    -- <br>
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                                      target="_blank">http://www.commonsstrategies.org/</a><br>
                                    <br>
                                    <br>
                                    <br>
                                    <br>
                                    <br>
                                    <br>
                                  </div>
                                </div>
                              </blockquote>
                            </div>
                            <br>
                            <br clear="all">
                            <br>
                            -- <br>
                            P2P Foundation: <a moz-do-not-send="true"
                              href="http://p2pfoundation.net/"
                              target="_blank">http://p2pfoundation.net</a>�
                            - <a moz-do-not-send="true"
                              href="http://blog.p2pfoundation.net/"
                              target="_blank">http://blog.p2pfoundation.net</a>
                            <br>
                            <br>
                            Connect: <a moz-do-not-send="true"
                              href="http://p2pfoundation.ning.com/"
                              target="_blank">http://p2pfoundation.ning.com</a>;
                            Discuss: <a moz-do-not-send="true"
href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation"
                              target="_blank">http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation</a><br>
                            <br>
                            Updates: <a moz-do-not-send="true"
                              href="http://del.icio.us/mbauwens"
                              target="_blank">http://del.icio.us/mbauwens</a>;
                            <a moz-do-not-send="true"
                              href="http://friendfeed.com/mbauwens"
                              target="_blank">http://friendfeed.com/mbauwens</a>;
                            <a moz-do-not-send="true"
                              href="http://twitter.com/mbauwens"
                              target="_blank">http://twitter.com/mbauwens</a>;
                            <a moz-do-not-send="true"
                              href="http://www.facebook.com/mbauwens"
                              target="_blank"><font color="red"><b>MailScanner has detected a possible fraud attempt from "www.facebook.com" claiming to be</b></font> http://www.facebook..com/mbauwens</a><br>
                            <br>
                            Commons Strategies Group, <a
                              moz-do-not-send="true"
                              href="http://www.commonsstrategies.org/"
                              target="_blank">http://www.commonsstrategies.org/</a><br>
                            <br>
                            <br>
                            <br>
                            <br>
                            <br>
                            <br>
                            <br>
                          </div>
                        </div>
                        <hr>
                        <hr noshade="noshade" size="1">
                        <p color="#000000" align="left">Aucun virus
                          trouv� dans ce message.<br>
                          Analyse effectu�e par AVG - <a
                            moz-do-not-send="true"
                            href="http://www.avg.fr/" target="_blank">www.avg.fr</a><br>
                          Version: 10.0.1204 / Base de donn�es virale:
                          1435/3428 - Date: 07/02/2011</p>
                      </blockquote>
                    </div>
                  </blockquote>
                </div>
                <br>
                <br clear="all">
                <br>
                -- <br>
                P2P Foundation: <a moz-do-not-send="true"
                  href="http://p2pfoundation.net/" target="_blank">http://p2pfoundation.net</a>�
                - <a moz-do-not-send="true"
                  href="http://blog.p2pfoundation.net/" target="_blank">http://blog.p2pfoundation.net</a>
                <br>
                <br>
                Connect: <a moz-do-not-send="true"
                  href="http://p2pfoundation.ning.com/" target="_blank">http://p2pfoundation.ning.com</a>;
                Discuss: <a moz-do-not-send="true"
href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation"
                  target="_blank">http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation</a><br>
                <br>
                Updates: <a moz-do-not-send="true"
                  href="http://del.icio.us/mbauwens" target="_blank">http://del.icio.us/mbauwens</a>;
                <a moz-do-not-send="true"
                  href="http://friendfeed.com/mbauwens" target="_blank">http://friendfeed.com/mbauwens</a>;
                <a moz-do-not-send="true"
                  href="http://twitter.com/mbauwens" target="_blank">http://twitter.com/mbauwens</a>;
                <a moz-do-not-send="true"
                  href="http://www.facebook.com/mbauwens"
                  target="_blank">http://www.facebook.com/mbauwens</a><br>
                <br>
                Commons Strategies Group, <a moz-do-not-send="true"
                  href="http://www.commonsstrategies.org/">http://www.commonsstrategies.org/</a><br>
                <br>
                <br>
                <br>
                <br>
                <br>
                <br>
              </blockquote>
            </div>
            <br>
          </div>
        </blockquote>
        <hr noshade="noshade" size="1">
        <p class="avgcert" color="#000000" align="left">Aucun virus
          trouv� dans ce message.<br>
          Analyse effectu�e par AVG - <a moz-do-not-send="true"
            href="http://www.avg.fr">www.avg.fr</a><br>
          Version: 10.0.1204 / Base de donn�es virale: 1435/3433 - Date:
          09/02/2011</p>
      </blockquote>
    </blockquote>
  </body>
</html>