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For our nation to issue its own currency and cease using the federal reserve or central bank model.

This video showcased to me the non-sense that some people can come up with using very pure and positive motivation: the motivation for our developed nations to get back on track and create new jobs and new opportunities. I commend the speaker of the video for his outside the box thinking but there are a whole lot of reasons why his ideas will surely never materialize in the US or UK. The biggest of which reasons would be because our currencies are printed by a central bank which automatically ensures our countries owe interests on the debts we accumulate. This system of debt-based fiat currency sponsors the current economy of stock market trading derivatives and the like. This top-down approach severely discourages financial innovation like this from the bottom up which is (from what I gather) the speaker is suggesting. Also both the UK and US Parliament/Congress respectively are far too corrupt to have funds appropriately go to such an idea because they have too many special interests to appease and fund first.


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  • Feb 10 2013: Of course, the issue of currency is a difficult charge to reconcile in an easy manner. There have been many writers, thinkers, politicians and futurists that agree upon a mono-currency for the world sometime in the future. The question today is then about how we will develop a national infrastructure for currency regulation, so that a mono-currency would adapt accordingly to each national modality. I describe the problem in this way to suggest that a devised system of scale for currency is necessary before the consideration of interest-bearing loans or the size of any debt.

    Imagine that scale is the issue of management and regulation for financial considerations --person to person, city to city, state to state, nation to nation. In each category, the fiscal-transactions are regulated based on the scale of "borrower" and "loaner", not the dollar amounts. This designation of scale can afford a greater degree of accountability of the monies necessary for civil-needs, as well as internalize the management of each expense with a new criteria.

    Bernie Madoff said that "if the national economy was an oil-tanker, the entire ship was filled with oil instead of individual barrels". The designation of currency-types could also benefit fiscal accountability even further; imagine if there was a currency for energy, health, education, entertainment, food and rent. Each individual would carry a certain type of currency more than another, as would each city and state. It would become quickly obvious what is being spent more and what is being spent less. Furthermore, the prejudice of class and wealth would become too complex and personal a matter, hopefully rendering each individual's spending habit as a true lifestyle choice --better meals rather than higher-education and so forth. Each city and state would have a city-style or state-style based on these currencies.

    You should watch "Fixing the Future", a PBS program. It describes functioning sattelite-banking systems today.

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