Are you for a cashless global society?
http://www.independent.co.uk/news/business/news/cashless-society-by-2012-says-visa-chief-439676.html
This raises some serious questions, like...
1) If so, how would government be regulated by the private citizenry to make sure that government cannot access records of their privacy, spending/purchasing habits?
2) How would this electronic currency be protected against inflation?
3) WHO would be setting the value of the electronic currency regarding it's purchase value?
4) What about folks who desire to live 'off the grid'?
5) How would a cashless society 'shrink' government instead of grow government?
I would be interested in your input!
Slow cell towers here so didn't see link. But I know difference between the money of a free people and the money of a slave people
The definition of "money" is, it's an agreement on what will be accepted as a medium of exchange. There are 2 basic choices: value based on betting on the future or value already earned which we trade for value already earned. The former depends on complex systems of faith. The latter currency carries its value with it because it embodies the essence of wealth in itself, being composed of the essence of land+labor=substance. Translation: quatloos can be inflated but silver can not.
So I vote for hard money. The primary value of metal coinage is that you own it, it is anonymous, and it is Property, as opposed to credits which are controlled by some remote Authority.
Isle of Man e-Business News - Spring 2010 (Part 1)
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