Yes,
I know, I used one of those dreaded words, the “masses,” the
words THEY use for us. But most people out there are completely
unaware of where they actually are in the scheme of things.
This
was from Dennis and covered so many subjects, that I decided to use
it to make some vital points:
The
current debt is bogus----no financial consideration was offered by
the so-called lenders who created the currency ex nihilo only when
some party (sucker or serf) signed a promissory note to a member of
the banking cartel.
The debt he's talking about is the
Federal “public” debt. The government exchanges bonds (debt
instruments) for the money issued through government spending. The
government, not you or I, thus decides to buy what THEY want, not
what you or I want, and they get to do it “on our dime,” as they
say, because we are not only on the hook for the principal spent, we
must pay back from uncreated money, an interest rate to the bankers.
The
central bankers are the ultimate power in today's world power system
– Mystery Babylon, the mystery being that they are not perceived to
be the actual power - and all wars are based on the struggle at the
top to remain in power. The central bank for the US government (as
it's “best credit risk” customer, therefore its perpetual debt
slave), the Federal Reserve, created that money out of nothing, by
fiat, out of nothing, ex nihilo, and as Dennis doesn't perhaps get
yet, that their fiat to issue money was STOLEN from all of us. This
blog contends that the fiat to issue money belongs to us, as a
natural right covered in our right of contract to do anything
with each other under the oldest known natural law. Subverting
contract law automatically proves you live under a tyranny which
defies nature and propels society and all life itself toward death
and should by all rights be overthrown, exactly as Thomas Paine (not
Tom Jefferson) wrote in the Declaration of Independence.
But
that is beyond the purposes of this blog and we specifically DO NOT
advocate violence. In fact, we actively encourage all members of the
military and law enforcement, as well as their families, and their
grandmothers, to be among the first to join us in establishing our
independent exchanges. Our intent has always been to propose an
alternative to THEIR monetary system, a place to go to before and
after THEIR system implodes.
The
idea, as proposed by some, of giving people an unearned stipend to
each citizen as a guaranteed income, is one of the worst ideas
imaginable. What you subsidize you get more of! And such action
subsidizes indolence.
Before stating the contrary
obvious to Dennis and others, I simply point out that right now all
money spent under the US defense budget is a far larger waste of
money than providing “the lower orders” some subsistence
purchasing power. But that aside, this statement would be acceptable
if there really was a natural economy in operation. But there isn't
one anymore, because all the money is in fewer and fewer hands and as
they trade it back and forth and the government continues to spend,
spend, spend, its completely unbacked money, well then prices
steadily rise.
The economy has been destroyed through all
the consequences of capitalism; outsourcing, etc. What Dennis
complains about here is socialism, usually of the state sponsored
variety and the reason state socialism MUST be allowed is that
without it, there would be a huge social revolution against the
looters, the capitalists, those who make money on money without work.
Somehow
Dennis doesn't get that not only the poor don't work, but the rich
don't work either. We're not talking about those with a few million
or those with a few hundred thousand in total assets, oh no, I'm
talking about billionaires who can buy whole countries. These are
the rich I'm identifying as rich. Meanwhile in order for the rich to
get more riches the people in the middle must be looted of what
little they still have, especially the lower order millionaires, and
they ARE being looted too. Without them, there really is no economy
and no future. So what does Dennis propose to solve this situation?
What
is needed is a return to commodity money, the money which emerged
naturally as the most marketable object of exchange
in all the great river basin civilizations throughout
history----namely gold, silver, and (formerly) copper. And very
importantly, allow prices then to adjust freely to available supplies
of silver and gold, and above all, quit allowing the banking class to
create currency as debt, the most egregious example of an
unconstitutional fraud that can be
found in our land and, by extension, now throughout the world.
Very
well, let's parse this: First of all, Dennis, seriously pal,
commodity money is what we have now. The money itself is a
commodity, bitcoin is a commodity, most people's idea of money is as
a commodity. It's in our language too; how much money does one have,
etc. Some even theorize that one must match one commodity used as
money with everything else that's produced as commodities and all
this must be subject to rigorous planning bureaus, else one would
have inflation.
Also,
and this is important Dennis, your ideas about silver, gold, and
copper and history itself in these matters, come from economist
fraudsters, the so called “Austrians,” who want you to ignore all
of REAL history concerning these metals. Their acceptance was not
natural at all, it was FORCED on people and the heads of the rulers
were stamped on all the usual coins, you paid those back to him as
taxes and used what you could earn as money for everything else.
These were times when life for the most part was “nasty, brutish
and short.”
Precious metals are just some other commodity.
If more comes to market or not is based on whatever uses the metals
have and all three of these have very good specific industrial and
artistic uses. People's habitual looking backward is not going to
help solve anything, Dennis. The past was “nasty, brutish and
short” for most people and we see no reason whatsoever to go back
there. Plus, those who have the most of these metals when used as
money inevitably become the masters and those without become the
slaves. Dennis, seriously, at the bottom of the Great Depression of
the 1930's, we had a gold standard and 35% unemployed and there was
still the inevitable inflation, even with natural depreciation, which
continued right through 1971 when we left that standard.
The
biggest lie the “Austrians” tell the world is that precious
metals were accepted naturally by people in trade. In fact Dennis,
these metals were FORCED on people at sword point, and later
gunpoint. The “Austrians” are flat out liars and I will continue
to say so until their “economics” is thoroughly discredited.
Read The Babylonian Woe by David Astle and then get back to
me.
The
so called “market” for all of these metals is THEIRS, Dennis.
They control the mines too. There is no point at all in
trying to imagine a situation where a supposed free market exists,
where principles would work to the advantages of the average person
in the street. It's idealistic dreaming. This is another delusion
perpetrated by the “Austrians” for their own purposes, since THEY
ALWAYS EXTOL USURY, Dennis! In fact, Dennis, the entire basis of the
so called “Austrian” alternative is to continue the control of
the money lenders, period!!! But I assume that Dennis doesn't
really yet know this. Dennis says further,
You
can still have the convenience of paper money and checks, but those
instruments must always be redeemable 100% in silver or gold grams.
You can still have credit cards, but swiping a card becomes the
actual transfer of gold or silver ownership for
a prescribed term and lent at interest by a segment of the population
who is fully cognizant of the true loan contract and its terms of
interest, the latter not being set arbitrarily but in unhampered
capital markets.
Wait
a minute, Dennis. There are no unhampered capital markets.
The idea of trying to create one is preposterous, EXPENSIVE and
completely unworkable. The people you listen to want to keep their
public audience dreaming of something and feeling angry about
something they can't do anything about. It will never happen,
because as you have failed to see, even the precious metals are THEIR
money, under THEIR absolute control, period. They determine what it
is worth in all the rest of THEIR brands of money. Unless the money
you use is actually yours, if you did not issue it, then it is not
yours, then you have no control whatsoever over anything that you
use it to buy. Our proposal is far simpler, cheap and we let them
determine just what their money is worth compared to ours which
does not change as it is based on the present value of a
transaction at a specific point in TIME rather than any quantity of
any commodity.
Step out of THEIR world and take a look at it
differently: we said that at inception 11/2/11 one ounce of gold
would be worth 1,000 Valuns, and today, even with the price of gold
way down from inception, no one knowing what a Valun is truly worth
would part with less than V1,000 for an ounce of gold, though in
THEIR world to us, gold's real value is down by 23% or so. We
accomplished this within our own market in Valuns, NOT THEIR markets
in THEIR precious metals and it costs us nothing to do so.
It
is also very possible and maybe even more desirable to use the
Islamic model of capital formation in which no loans are given but
money is transferred against a stake in the profits of the
enterprise.
This
relates to finance and as we have shown, there are ways to get free
of usury. We'll have more to say about alternative finance in future
papers.
Dennis
and everyone else needs to scrap everything they think they know
about money and start over in their thinking. What we need is a
standard all right and since Dennis and everyone else that has sent
in comments tells me, they want that standard to involve gold and
silver. So we did that. Instead of a commodity as money, we
determine a piece of purchasing power at a particular time as
the basis for all our money. Instead of a commodity, we call this a
transaction basis.
This
idea is not new. It was rediscovered by economists who did not
support the present money and banking system, but were critics of it;
both Arthur Kitson and E. C. Riegel agreed about this. The
transaction basis of money was also probably known and used by
Solomon as well, yes the Biblical Solomon. It was said under his
rule that gold and silver were so cheap that people trampled these
under foot. I recall as a kid dropping a silver dime or quarter and
nobody thought anything of it, we walked on them. We do not live in
those times now and we have supplied enough resources on this blog to
determine the reasons and causes, but that is not our purpose.
By
the way Dennis, none of the money in our proposed system is borrowed
from anybody, so it doesn't need to be paid back to anybody. It
circulates until it is used to buy something that depreciates and in
that process goes out of existence as THAT is the correct and vital
way to perceive money, not as some stagnant lake of some finite
commodity but as a stream that must continually be replenished else
economies die. So it DOES matter just who gets to issue money, now
doesn't it?
As
it is now human life is valued pretty low, such that some consider it
worth senselessly killing billions off the face of the earth and all
just to remain in power. It all has to do with the chosen basis of
the money we use. If we issue our money, and yes we do have a
standard for it that does not change, then each new human being that
is working, producing, contributing, participating in our proposed
system will be not only the source of wealth, but more wealth will
build up naturally and solve the many terrible problems that beset
us. We'll need to as their system is the Titanic and it has already
hit the iceberg. So Dennis, this proposal is not just some whim of
mine, it really does matter and deserves consideration and widespread
action to bring it about.
Note
that their money establishes our exchanges with all of their money.
But we do not need any reserves of any precious metals at all. By
far the most of the money we issue will be backed directly by our
labour though the poor among us will have limited issue. THAT is the
only source of so called free money in our proposal. But the amounts
we will allow will permit launching pads for real businesses to
grow back from the ground of local human need where it belongs, not
from on high by some mighty dinosaur state or bank. As for “cash.”
The proposed V-Check transfers Valuns from one account to another by
means of an exchange wide account. Dennis and others, while
economics, POLITICAL-economics more correctly designated is surely
mostly absolute bunk, accounting is essential as all monetary systems
center on a ledger that used to be in some big book and now is of
course on a computer. The technology has made a worldwide monetary
system operating locally under a worldwide standard a real
possibility for a really small cost.
As for this blog:
we are about to embark on another series we're calling The Road to
Prosperity. It will be presented on two of my websites
simultaneously.
David
Burton
dpbmss@mail.com
Current Hypothetical Value of a Hypothetical Value Unit
[9/25/16:
Well, I got the following response from Dennis and by the way Dennis
happens to be in a profession that I highly respect. Nevertheless, I guess I
wasn't too surprised when he asked,
Q:
Why you will not accept the existence of a
natural standard of currency in the form of the money which arose
spontaneously as the most marketable commodity but must resort to a
very abstract valun?
A: Real simple, gold is a
commodity that THEY control, not you or me. Wishing that the price
of gold were higher or lower or whatever in terms of dollars or any
other of THEIR money or that you or I could have a say in any of it
is a fantasy that certain people want to put before the general
public as deliberate false hope. So they float all sorts of nonsense
about how much better a gold standard is. Well it may be, FOR THEM,
but not for you or me.
You know what our enemies have that
they can and do use against us all the time? They DELAY everything
for as long as they possibly can, for a decade, twenty years, a
century, longer than you can possibly live. Why? Because it's THEIR
money, not yours or mine and they can literally buy time. Also, and
I sincerely regret to tell you this, but again, why should you have
been reading the works of snakes or listening to them? I mean the
“Austrians” of course. They are liars from the beginning. If
they tell you that gold was freely chosen and you're expected to just
believe it, then honestly you haven't read much monetary
history, or regular history for that matter.
Believe me, I was sort of a "gold bug" for a while, I
even made a lot of money for some of my clients between 2002 and 2007
on the big rise in gold and for the most part my clients just
bought and held and sold off when it got high enough, same as any
other of their investments. How many people can or would even get
that far, Dennis? Very few, and THAT is the significant issue. Most people don't even care for gold that much. They have superstitions about it. Perhaps they instinctively know that there's always blood associated with gold. Recall what the liars told you and who they are.
The truth is that “gold buggery” is just another
kind of superstitious religion (idolatry) and from the standpoint of a banker, he just
loves that he has the opportunity to keep up his fractional
reserve lending business while betting on the ups and downs in THEIR
rigged gold markets. You know what, Dennis? If you knew what I know
you would run from gold, you'd begin to see it as the real poison
that it is. The best thing to do with it is store it in vaults and
if some nasty government comes along and wants to get paid, you give
them some, just like THEIR Constitution says to do. Meanwhile, you
keep and spend the money you earned with your own efforts and issued
yourself among the PRIVATE company that you keep, which could be in
your own community or around the world, since the Valun is a
worldwide standard. There are plenty of other reasons, but this is
possibly enough for now.
Also
you misrepresented several of my positions. I will get back to you on
that. For starters, this whole paragraph:
By
the way Dennis, none of the money in our proposed system is borrowed
from anybody, so it doesn't need to be paid back to anybody. It
circulates until it is used to buy something that depreciates and in
that process goes out of existence as THAT is the correct and vital
way to perceive money, not as some stagnant lake of some finite
commodity but as a stream that must continually be replenished else
economies die. So it DOES matter just who gets to issue money, now
doesn't it?
Of
course it matters who issues money, a centralized authority or
the actual participants in exchange---and those participants
naturally gravitate to an objective standard.
There's
nothing more objective than TIME. The time you were born and the
time you will die are definite objective TIMES. There is a certain
brand of physics afoot that claims that time doesn't really exist,
that we can't measure it, etc. More elastics from those with elastic ideas and elastic morality and ethics, etc. But I am increasingly skeptical of
any and all relativistic excuses, because ultimately what these
scoundrels are attempting is to say that objective truth doesn't
really exist. Well, nobody uses a ruler that changes measures every
day, so why should the money we use be incapable of stable
measurement of value? Why does a chunk of gold buy less today than at Valun inception back at 11/2/11? Yes, it IS an abstract concept, but it is
based on a objective standard, a specific objective transaction at a specific
time that anyone could check by consulting readily available data.
But the idea for a transaction based monetary unit was all in Riegel's works to begin with. When I read them in
about 2010, I realized I had stumbled upon someone with an economic
perception that challenged everything I had ever read up to that
time. Riegel's ideas (and those of Kitson before him) largely
demolish conventional economics. He returns the power to the people,
to everyman and everywoman. He doesn't require a state to do it, he requires something like a bank that doesn't lend money, he called an exchange. He based his transaction on a dollar at a particular time, I decided to grab the proverbial golden calf by the horns and propose a transaction involving gold (and silver) because at the time (and consistently to this very day) most would prefer that and it so happens that basing a transaction on gold solves a lot of problems for us in terms of exchange.
Now even Riegel didn't state it
as bluntly as I do, but the fact of the matter is that if anybody
deserves the right to issue money by fiat it is certainly those who
must work for it rather than any government or any bank, sorry.
If you disagree by now, that's honestly a pathetic position. Where's
your self respect that you'd be talked out of something this
important by some “authorities' that use nothing but FORCE to prove
they have the power to do it, etc.? It's because the money we all use is THEIRS not yours or mine and THEY call the shots, Dennis. That will NOT change until we are able to walk out on them. We can't do that without our own money, it's just that simple.
We
have the fiat to issue money by natural right and it is forbidden to anyone else! We are the actors (to use an idea
from the “Austrians”) in the economy without whom nothing would
move at all. The “brainy” or “exceptional” people who assume
they deserve more (from Ayn Rand's John Galt speech), would get
absolutely nowhere without all those who may be stupider than they
are, but who may have managed to acquire a useful skill. When it comes to things, concepts, ideas, information, etc. I'm the
kind of person Dennis, who doesn't hold onto old junk once I'm
convinced it has outlived its usefulness, and that particularly
includes ideas about money, business or economics. About all I require is strong evidence and I believe
that each day that presents itself offers an opportunity to further
the quest for more knowledge and truth.
People are not in that category Dennis because we are and should have always been the source of all wealth. If you say, along with the elites, that some ounce of gold is worth more than a human being, then you have some idea the depth of my feelings against ANY of THEIR gold based monetary ideas. Besides which, and history actually proves the “Austrians” not only wrong but LIARS, their gold backed systems actually do not work for most of the people at all. But that was their intention to begin with. If you were fooled, that was just too damn bad. They'll be more than happy to take more advantage of you.
Dennis refers to where I said,
The debt he's talking about is the Federal “public” debt.
Not solely. In fact most debt is private debt by far which is what citizens and firms owe banks when they take out loans. But these loan are also created ex nihilo when parties sign promissory notes. They are not loans from previously saved capital but spring into existence when bankers, reviewing deposits on hand in the institution, create loans equal to 90% of those deposits, which become checkable balances in accounts created for the borrower. You notice you cannot get your 'loans' in the form of cash!
No, that's right, but who gets paid in gold and silver, Dennis? Nobody has since maybe the end of the 18th century. Want to go back there? No, but the emphasized is all about fractional reserve lending. What do we say? Who ever heard of lending somebody something you create out of nothing just because you're “special?” That's what we have and yes, Dennis is correct and the results of it are economic bubble blowing and all bubbles burst. That doesn't mean the debt goes away though. As a result we now have a system with many times the number of dollars created by this “credit” instead of actual “cash.”
We were precise in our definition of “cash” too, weren't we? We described it as a credit instrument, the means to settle a trade in the standard it represents. Cash is what confers anonymity in transactions. Our solution is the V-Check which conveys the number of Valuns on it between accounts, lasts for 6 months as circulating money and can be either replaced or deposited after expiration because each one will be numbered and the money in the V-Check account will be there until each check is retired. They are only tokens and whether they are of precious metals or paper certainly does not matter. So yes, I'm afraid so, the whole “intrinsic value of money” is another huge SCAM. Look, if you are already dealing in money that you cannot trust and still use it, then why would you require some PHONY trust between you and your money, unless it really isn't your money?
In fact if the “cash” tokens are made of precious metals then the day to day prices for these affect what you can buy with them. THAT's why Bernanke didn't regard them as money. They were used as money, they were FORCED on ancient civilizations, wars were fought for them and people died mining them as slaves. Are you getting me yet, Dennis? We can do much better. We will never allow fractional reserve lending; you cannot lend what you do not have under our proposal. That has always been and still remains a fraud that we all live with, until THEIR system passes into perdition. What then? The Titanic is going down. We are going to need lifeboats and we do not want nor should we expect anything good from THEM. Understood?
[9/27/16:
Q: We are getting nowhere fast. So, in the
interests of clarity and to prevent misinterpretation of statements
made on this complex topic, I will limit myself to simple questions:
How are valuns created? Today I treated one patient and taught a
number of students mathematics. How do I get paid in valuns? Where do
the valuns come from?
A:
Valuns come into existence, are created, issued in 3 ways:
1.
A members issue them under labour contracts – you work for them on
a schedule. This is by far how most Valuns, better than 90%, will
come into existence. The labour contract is between you and either
your employer (if a B member) or the exchange (representing the
entire local community). The entire number of Valuns enumerated
on each contract is issued to the employer by the employee on the
first day of the contract as a loan at no interest. The
Valuns are then paid back to the employee on a schedule of pay days,
usually coinciding with the regular pay days in THEIR money. You
buy your own job and issue your own money, your work backs your
money. There will come a time when no one will be able say they
have been “bought” by anyone else. Those days will be over and
with them, most of what's really wrong in the world. Employees will
increasingly choose those who they would like to work for and buy
their own jobs with them, if their employers agree. But we have made
it possible to get paid in your own money anyway since in some cases
your employer would not be a member of any exchange (public
employees).
NOTE: We especially want all military and law
enforcement on our side. We will allow them to create/issue up to as
many Valuns as they are being paid in THEIR money. The limiting
factor is income taxes which must always be paid in THEIR money.
2. You buy Valuns into existence by exchange with gold or
silver. (If an A member brought in dollars, euros, yen, etc. we'd
buy precious metals with them for the amount of Valuns required to
make the trade). The precious metals belong to the exchange, but
they are used solely to pay taxes. All Valuns issued in this way are
obviously backed by the gold (or silver) WE require, not THEM, in
trade for a Valun. WE set the rules for this according to our
standard, not THEM. This is the gangplank from the Titanic to a
lifeboat for those who see where the current system is headed and
want out, but are not willing to give up the rest of their lives to
retirement, doing nothing, etc.
3. The indigent among us are
allowed to issue a limited number of Valuns on a schedule. This
includes the aged, infirm, disabled, etc. This is the only “free”
money in the system. At first, this is likely to represent more than
it ever will in the future. After all, we consider poverty to be a
temporary condition easily corrected by more opportunities to earn
more money. This money is also issued according to a contract with
the community.
The entire system is based on PRIVATE
contracts.
If
you are offering a service, the first thing to consider is what it
costs you in nominal terms based on THEIR money to provide that
service and how much extra purchasing power you require to remain
profitable. This might even be set higher as a goal.
Most
people know these figures somewhat in their head and can jot down
some round figures on a piece of paper or maybe they'd use a bank
statement. Basically you make a list of all your monthly expenses.
Some of these must be paid in THEIR money. But there are other
things on that list that might be paid for in Valuns instead. You'd
jot down what these would be alongside the figures in THEIR money.
When
considering values in Valuns, one would then use a current value for
a Valun ($2.65 on 9/27/16) and get some equivalent figures in Valuns.
Then one would figure out how much one would have to ask in Valuns
to get paid the same or more than one is paid in THEIR money. Some
of us could teach this or that on the side and eventually want
nothing but Valuns, but in the meantime we might charge some nominal
fee in local currency and the rest in Valuns.
You always
want things to start at rough equivalents with THEIR system. We are
building almost a duplicate accounting record that will run on its
own and grow as matters of natural scales allow. A big limiting
factor is income taxes, because every earned Valun (taken as income)
represents a taxable income to THEM which ultimately must be paid in
THEIR money. This is why it is vitally important to know ahead of
time, how to allocate more of THEIR money for taxes until their
absurd political policy of taxing labour ceases.
If you work
for yourself, you can't give yourself an exorbitant salary in Valuns
because no exchange would ever allow a contract with yourself to
permit that under the rules. That's like dividing by zero. But if
you set up under your local exchange as a B member, then you have a
contract with your business, which must stay solvent (maintain a
positive balance). Taxes are a limiting factor to all growth because
they must be paid first; they have seniority or senior status in all
debt. So what you do is consider THEIR money the scarce resource
that it is and plan to pay all taxes and everything that must be paid
in them before considering what else you need. Some might even open
a savings account and just put in there all the money to pay
anticipated taxes when they come due.
If
you issue Valuns to work at your own business, a contract between an
A member (you) and a B member (your business), then the business
books still have to balance because your salary is an expense to
that business. If you do not at least meet your expenses through
income, the sale of your services to other Valun holders, and others,
then you go bust. Overdrafts for B member business accounts will not
be permitted. If the concern dies, it dies. The Valun exchange is
unaffected and goes on.
Most
of us who have something to teach might have minimal expenses to
cover, so we charge what the market will bear, perhaps less in THEIR
money and a few more Valuns besides. For instance, I said among some
friends of mine that I would be willing to teach a youngster
beginning piano lessons for V5 a half hour. That's about $13 and
change. Some might say, I'll take V5 and $1, etc. The $1 would go
toward taxes and other bills that must be paid in THEIR money.
If
you already have a job, you can always earn extra Valuns as you work.
If your employer is a B member of your local exchange, you are
buying your job – issuing your Valuns (see all our references to
the self financing of employment through contracts
here and
here)
and being paid in your own money. If your employer is not a B member
of your local exchange, then you make a contract between yourself and
the exchange (your community).
Let's say you're a public
school teacher. The school cannot be a member of our exchange as it
is a government institution and they are at present forbidden
membership. But its employees still need someone to represent their
right to issue their own money. As this teacher is paid, they would
have also issued into existence their own Valuns which would be paid
back to them. Remember we define work as specifically all
time apart from the rest of your life to earn barter (in money)
for your livelihood.
I
intend on describing in sufficient detail more of these contract
arrangements that would result in the issuance of Valuns in the up
coming series The Road to Prosperity which shall appear here shortly.]
[9/28/16:
Referring to,
You
notice you cannot get your “loans” in the form of cash!
“Cash”
here means some form of banknotes redeemable 100% in the precious
metals. I do not advocate using gold or silver coin out of practical
considerations but banks must be subject to this check at all times.
I
suppose they would be so subject if they were really ours. But they
aren't and what they do and have been doing has gone on for so long
that attempting any real reform is … categorically impossible –
the leopard does not change his spots, etc.
I'd also like to
point out AGAIN that reliance on gold and silver indicates very
much that none of THEIR money is really yours (including
THEIR gold and silver) and so you feel the need to have the precious
metals in there as “faith” and “trust” which if it were
really yours you wouldn't require.
Again Dennis, just how do
you know from day to day if the precious metals were really where
they claim they are? You see, their track record isn't very good and
they lie without any of the usual restraints and if you catch them,
it's a projection; it's always your fault, never theirs.
Also,
and this is NOT an insignificant issue, all independent exchanges
within the proposed Valun exchange network (VEN) would be using the
same ledger, it would just be dealt with locally. So some scoundrel
couldn't just go bankrupt somewhere, pick up and start all over again
somewhere else without being detected. This whole proposal is
PRIVATE Dennis. No special favours for special people either.
Also
Dennis, NONE of the businesses lending money in the proposed VEN
would EVER be directly associated with a particular local exchange.
They might have B member accounts within such an exchange, but their
business, and their books are their own to keep and if they go bust,
they go bast and that doesn't create a ripple effect throughout the
entire system and never imperils the clearing of transactions, which
is the principal function of each local exchange and most important,
never affects the international standard Value unit standard.
Gold
and silver certificates? AGAIN, why repeat something that DIDN'T
WORK well for the vast majority of people? Want to go back to silver
and gold certificates? Many of them at any one time or another were
BOGUS (as you probably already know) and so you expect that some
state should hire someone to be on the spot 24/7 guaranteeing that
all the precious metals they say they have is there so that
all their certificates can be redeemed?
You know what?
Seriously. You're dreaming. If you really love gold and silver that
much, go out and buy some. I do, from time to time. But I never
lose sight of where it came from, some state usually or some private
mint and I ultimately know who controls the pricing of it and it aint
you or me. The chances that it ever will be you or me are as likely
as that a teacup orbits Mars.
I tell people all the time
that “gold backed” money and banks failed just the same as “fiat”
banks. They still want to hang onto precious metals because they
have some value, and also, BECAUSE THEY ACCEPT THE LIES OF THE
SNAKES. OK?
How
badly do you want it? That's always a question. I've been close
enough to the inside of the system to smell the stench of its rot.
There is ultimately NO HOPE AT ALL of saving it. There is also no
way back to trying something that DIDN'T WORK in the past, especially
since the precious metals required aren't really yours as I've said
all along.
Frankly if I really need a new machine, I usually
don't bother with one that's out of date and your proposal happens to
fall into that category. Hope you're happy. You're quite talented
I'm sure and would like to survive and do better. Consider yourself
among the tens of millions who would like the same things and figure
out who you're going to follow to get there. Hint, Jesus got a gold
coin from a fish and paid his taxes with it. Render unto Caesar what
is Caesar's. See, it isn't yours! Best.]
