Monetary reform, any debate? (in Off-topic)
Have you seen any debate regarding monetary reform post 2008? If so where? how visible is it?
I was hoping to see much more, aside from a few advocates for a return to some sort of gold standard (absurd imo) it has been seemingly invisible. Given my quasi hermit status maybe I have missed it :)
March 27 2012 12:41 AM EDT
When the actual amount of physical currency is literally dwarfed by the sum total of all bank account balances in that particular currency (to the point where actual physical cash can represent anything between at most 10% or even as little as 1% of that - yes, ONE PECENT), you just throw your hands up in the air and say "screw it, there's no hope and no possible viable solution that doesn't involve a massive collapse of everything currency-related".
I'm assuming you refer to money created without a debt and don't have anything against virtual money period.
I hope, were it decided that a different system was preferable a gradualist approach could work and perhaps avoid collapse.
March 27 2012 11:39 PM EDT
Correct. Nothing against virtual money (printed money is after all still virtual money from most standpoints, except that the creation rate and current supply is quite strictly regulated by the issuing government), only against money created as debt from the start (with practically negligible government oversight, fractional reserve banking is a joke).
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