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A crash course in changing the world.
How to use LOCAL CURRENCIES to HALF the public (national) DEBT
How to use LOCAL CURRENCIES to HALF the public (national) DEBT
If Ithaca Hours (local currencies) gain momentum, with Ithaca Hours you could buy Treasury Bonds at say, twice the nominal price to help USA to half the public debt. This because Ithaca Hours carry on only the printing press cost. This will introduce something totally unknown to central banking: COMPETITION and FREE MARKET. Are "THEY" ready to accept this challenge? This is my best EVOKE IDEA and it is interesting for EVERY country.
Note: Once you introduce a competing buyer on the Treasury Bond ARENA, the banking system can choose to offer, say, three times the price of bonds in normal currency (Dollars, EURO, Yuan, etc.), just to crash your bid in local currency. But the game can go on and on until Treasury Bonds price equal the printing press price to issue the currency... DO YOU SEE MY POINT?
If Ithaca Hours (local currencies) gain momentum, with Ithaca Hours you could buy Treasury Bonds at say, twice the nominal price to help USA to half the public debt. This because Ithaca Hours carry on only the printing press cost. This will introduce something totally unknown to central banking: COMPETITION and FREE MARKET. Are "THEY" ready to accept this challenge? This is my best EVOKE IDEA and it is interesting for EVERY country.
Note: Once you introduce a competing buyer on the Treasury Bond ARENA, the banking system can choose to offer, say, three times the price of bonds in normal currency (Dollars, EURO, Yuan, etc.), just to crash your bid in local currency. But the game can go on and on until Treasury Bonds price equal the printing press price to issue the currency... DO YOU SEE MY POINT?
Views: 38
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Comment by Colinos on April 3, 2010 at 10:52am
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This is interesting stuff! Not sure the stock jockeys would like to see their dollars linked to the actualy value of the paper and ink, particularly with electronic transfers so common these days!
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Comment by Michele Saba on April 3, 2010 at 11:00am
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You can also have electronic local currency once the currency gain momentum. You need some help from the state in accepting your electronic local currency... Think about Greece or California... they need a good fix for the public debt, together with many 3rd world countries....
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Comment by Starling on April 3, 2010 at 11:24am
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Wow, this sounds likea great idea. Do you have any contacts in government economics who you could talk over this idea with? Anyone else willing to connect Michele up with contacts they have?
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My aim is to introduce TRUE free market and TRUE competition in the field of banking and central banking... so the cost of money can be levelled to a sustainable level for all.
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Comment by Catherine Gentry on April 3, 2010 at 3:47pm
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Get rid of the monopoly of the present economic stronghold and it's mostly fictitious concept of debt.
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- Ezra Pound, Social Credit: An Impact - 1935
The state has credit. Distribution is effected by little pieces of paper. The best facts of history are not in the school books. The job of this generation is to teach growing children; to make it impossible for any child to arrive at the threshold… Continue
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public servants
The exchange works directly for state and public workers and servants. It gives them credit in exchange for the amount of public work they contribute to the community. The more constructive they are based off a base rate the more credit they recieve.
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