Shifting money creating from banks to individuals

[DoubleOrNothingParticipant 3]

Hello, gentlemen! I’ve just finished listening to an episode of a philosophy podcast in which a caller brought up an interesting question:

“Could shifting the money creation process from banks to individuals be the best basis for a better human society in the future?”

Here’s the link fredomain radio, starts 01:52:18 It’s ~10 minutes long and definitely worth listening to!

Do you think this system could ever work?

[Blue SkiesParticipant 15665]

bitcoins is a fairly good system…..and the supply is capped at 21 million

MGTOW is not a movement, it is a way of life.

[ILiveAgainParticipant]

Individuals could become corrupt … it’s part of nature.

Banks and corporations ARE corrupt…. it’s in their dna.

The only way to control wealth … is create your own … and keep control over it.

A fool and his money etc.

[BeerParticipant 11832]

DoubleOrNothing wrote:

“Could shifting the money creation process from banks to individuals be the best basis for a better human society in the future?”

Problem is when you drive 3 states over and pass through 11 different currency zones on the way…you’d just be doing the very thing a centralized currency was created to fix back in the day.

Plus…who would these individuals be creating currency? Could I throw a printer in my basement in print a bunch of Beer dollars up and expect people to value them? Could I sell some software that let’s random people mine for money and expect them to value it while I’m laughing all the way to the bank because people bought my software?

[NotMyProblemParticipant 965]

With cryptocurrency technology, you can create your own decentralized currency for a very small amount of money. You could potentially convince people within your community to use this to bypass the banks.

Google: ITHACA HOURS

It’s a local script used by Ithaca, NY. There are actually over 300 local scripts in use throughout America. Money can be anything. F~~~ we used seashells for 8000 years before we used gold(for 4000 years).

The way our monetary system works nowadays, we would seriously be better off using cowrie shells again. At least would be based on an asset as opposed to a liability.

Not my property... Not my problem

[DoubleOrNothingParticipant 3]

NotMyProblem wrote:

You could potentially convince people within your community to use this to bypass the banks.

This type of thing is impossible in the place where I live. I believe it’s called currency surrogates and any economic activity involving it is semi-illegal. They recently proposed a bill to jail cryptocurrency users for up to 7 years. Yeah…

Anyway, thanks man! Ithaca hours is exactly what I’ve been looking for. I can’t wait to get started researching it!

[Author]

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