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Re: how to fix banking (and money) PBDC vs CBDC

By: Fiz in 6TH POPE | Recommend this post (0)
Fri, 31 Mar 23 9:42 PM | 26 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 41493 of 58611
(This msg. is a reply to 41470 by Decomposed)
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I actually agree with you, De - although I deliberately didn't make that argument with my initial post.

What could be better than "private banks with no government regulation" (however he said it) competing with different interchangeable money? Simple: a physical base which makes it a slam-dunk to send them to jail for GROSS AND DELIBERATE FRAUD if they try to get funny.

The other thing, of course, is they shouldn't be allowed to hide behind a corporation, nor get excused in bankruptcy. If they don't have the metal, nail them with iron.

Corporations as they exist are SUCH a stupid idea. Fictitious entities should NOT have more rights than human citizens. Once you go down THAT road, endless criminality and shenanigans, as borders are tested and stretched, are guaranteed.

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The above is a reply to the following message:
Re: how to fix banking (and money) PBDC vs CBDC
By: Decomposed in 6TH POPE
Fri, 31 Mar 23 1:51 AM 		Msg. 41470 of 58611

Zimbler0:

Re: “Gold Coin? Is there enough gold on this planet to support using 'gold currency'?”Of course there is. If gold took on that sort of utility, its price per ounce would just rise accordingly. A million dollars per ounce would do the trick, don't you think?

BTW, I'm being serious. There's nothing that says gold-backed currency has to be in the form of gold coins. It could just as easily be in the form of bearer bonds that allow the holder to redeem each note for one millionth of an ounce of gold (one ounce minimum). Such notes would be exchangeable as money, would work just fine and would NOT be fiat currency.

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