http://www.dailywealth.com/136/the-only-sure-thing-we-know-about-gold-and-the-u-s-dollar
"With the U.S. unable to eliminate its trade deficit, Nixon was faced with the stark reality of another dollar devaluation. He opted instead to close the gold window on August 15, 1971, ending dollar-for-gold convertibility. The dollar was suddenly off the gold standard, and half of U.S. gold holdings had disappeared. The greenback began to "float," meaning it wasn't tied to any standard and could be printed at will. So how's it done since then?"
Topic: Interesting Site: New Currency Frontiers (Read 347 times)
Bitcoin is an attempt to "jump" a value money system to the status of our debt value money system, and to do it in a short period of time.
Debt value money is based on a Ponzi. Our whole system of money will crash, probably all at once - Boom! Will Bitcoin be ready?
Debt value money is based on a Ponzi. Our whole system of money will crash, probably all at once - Boom! Will Bitcoin be ready?
http://newcurrencyfrontiers.com/ is the site; here's the excerpt:
"Free Speech laws are designed to protect public discourse and dialogue. They create a safe space for a sort of "idea commons." However, there are no such protections for a "value commons" where communities and people can choose what they value and how to measure its value."
"Instead, we are accustomed to operating inside a "value system monopoly" with nationalized monetary currencies which only measure relative scarcity for commercial exchanges. This one pattern of thinking has become so ingrained in our minds that it's difficult to grasp the power of different ways of valuing and measuring things. We fail to notice the shortcomings of hard-wiring value to scarcity. For example, many things vital to our existence such as nutritional food, responsible parenting, supportive relationships, functional communities, breathable air, drinkable water, or fertile soil are not valuable until they become scarce. Consider for a moment how poorly money represents the value of such things."
"We have laws to protect freedom of speech and provide a safe space for the idea commons, but what creates the space for a value commons?"
"Free Speech laws are designed to protect public discourse and dialogue. They create a safe space for a sort of "idea commons." However, there are no such protections for a "value commons" where communities and people can choose what they value and how to measure its value."
"Instead, we are accustomed to operating inside a "value system monopoly" with nationalized monetary currencies which only measure relative scarcity for commercial exchanges. This one pattern of thinking has become so ingrained in our minds that it's difficult to grasp the power of different ways of valuing and measuring things. We fail to notice the shortcomings of hard-wiring value to scarcity. For example, many things vital to our existence such as nutritional food, responsible parenting, supportive relationships, functional communities, breathable air, drinkable water, or fertile soil are not valuable until they become scarce. Consider for a moment how poorly money represents the value of such things."
"We have laws to protect freedom of speech and provide a safe space for the idea commons, but what creates the space for a value commons?"
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