Joe Kelley
Administrator
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http://www.youtube.com/watch?v=LvOUML5f7Z8
That is a serious problem.
Here are serious solutions, all of which have proven to be viable and all can operate at the same time where competition improves quality and reduces cost:
http://www.perfecteconomy.com/pg-parable-of-perfect-economy.html
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Franklin explained that "If for instance a first man raises fowl, and a second raises feed, and the first intends in the next season to double his production, he may approach the second, wanting him to produce the additional feed required. They agree how much of the production of each will be traded to the other, and their eventual contracts are evidence of their promises to deliver to each other."
"Their notes may then be circulated as currency."
"The cultivator of the feed for instance may write a note against the fowl to be delivered to him, to pay for a doctor to take care of his family. The doctor may pay for goods with the same note at the local store. The store then will ultimately collect the fowl originally promised to the cultivator. When the production is delivered, the respective notes are fulfilled, and the money passes from circulation."
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http://www.globalideasbank.org/site/bank/idea.php?ideaId=904
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Its burgomaster, Michael Unterguggenberger, faced an empty treasury, because the unemployed citizens could not pay their taxes; roads and bridges needed repair and parks needed maintenance, for which the town could not pay; and idle men and women earned no wages.
He recognised that all three problems could be solved if he could find the connecting link.
That link was money. The three problems coexisted because no one had any of it, and his simple solution was to create money locally.
He issued numbered 'labour certificates' to the value of 32,000 schillings, in denominations of 1, 5 and 10 schillings, respectively. These became valid only after being stamped at the town hall, and depreciated monthly by 1 per cent of their nominal value.
It was possible for the holders to 'revalue' them by the purchase, before the end of each month, of stamps from the town hall, in the process creating a relief fund.
'The small town of Worgl in the Austrian Tyrol, suffering like every other town in Europe and America from the Great Depression, took the unlikely step of issuing its own currency'
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http://www.lysanderspooner.org/papercurrency.htm
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THE principle of the system is, that the currency shall represent an invested dollar, instead of a specie dollar.
The currency will, therefore, be redeemable by an invested dollar, unless the bankers choose to redeem it with specie.
Theoretically the capital may be made up of any property whatever. But, in practice, it will doubtless be necessary, in order to secure public confidence in the currency, that the capital should be property of a fixed and permanent nature, liable to few casualties and hazards, and yielding a constant, regular, and certain income, sufficient to make the PRODUCTIVE STOCK, hereafter mentioned, worth ordinarily par of specie in the market.
The best capital of all will probably be mortgages; and they may perhaps be the only capital, which it will ever be expedient to use.
This capital is to be put into joint stock, held by Trustees, and divided into shares, of one hundred dollars each, or any other sum that may be thought best. [*10]
This Stock may be called the PRODUCTIVE STOCK, and will be entitled to the dividends.
The dividends will consist of the interest on the mortgages, and the profits of the banking.
Another kind of Stock, which may be called Circulating Stock, will be created, precisely equal in amount to the PRODUCTIVE STOCK, and divided into shares of one dollar each.
This Circulating Stock will be represented by certificates, scrip, or bills, of various denominations, like our present bank bills - that is to say, representing one, two, three, five, ten, or more shares, of one dollar each.
These certificates, scrip, or bills of the Circulating Stock will be issued for circulation as a currency, by discounting notes, &c., as our bank bills are now.
This Circulating Stock will be entitled to no dividends; and its value will consist wholly <fn1> in its title to be received, at its nominal value, in payment of debts due to the bank, and to be redeemed by PRODUCTIVE STOCK, unless the bankers choose to redeem it with specie. In law, the Circulating Stock will be in the nature of a lien upon the PRODUCTIVE STOCK.
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http://nasir-khan.blogspot.com/2008/04/islamic-finance.html
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Islamic finance centers on the religious tenets of Islam and operates in a way to keep Muslims compliant with sharia, the religious law that comes directly from the Koran. Islamic activists, intellectuals, writers, and religious leaders have always upheld the prohibition of riba, the interest charged by moneylenders, and denounced gharar, which refers to any type of speculation. Under this belief, money must not become a commodity in itself to create more money. Islamic finance thus shuns hedge funds and private equities, because they simply multiply cash by stripping assets. Money serves as a means or instrument of productivity as originally envisioned by Adam Smith and David Ricardo. This principle is embodied in the sukuks, Islamic bonds. Sukuks always link to real investments - for example, to pay for the construction of a toll highway - and never for speculative purposes. This principle springs from the sharia’s ban on gambling as well as on the prohibition of any forms of debt and activities that trade risk.
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http://tmh.floonet.net/pdf/jwarren.pdf
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An importer of foreign goods writes a letter to a foreign correspondent for goods to the amount of twenty thousand dollars. On their arrival, if he sell them for what they will “bring,” perhaps he gets forty thousand for them, which may be about eighteen thousand
over and above the prime cost and contingent expenses, Which he obtains for, perhaps, eight or ten hours’ labor in merchandising; which is about thirty-six thousand times as much as the hardest working man obtains for the same time. With this sum he could obtain one hundred and forty-four thousand times an equivalent from females at 12 1/2 cents a day, or that of two hundred and eighty-eight thousand children at 61 cents a day!
In Equitable Commerce the expenses of importation, insurance, etc., etc., and those of vending, would be added to prime cost, all of which would constitute ultimate cost, which would also constitute their price. The .labor of importing and vending would be paid in an equal amount of labor; so that if the importer employed ten hours in corresponding with the foreign merchant and receiving the goods, then he would get, upon equitable principles, ten hours of some other labor, which was equally costly to the performer of it.
If scraping the streets we’re doubly as costly to comfort, clothing, tools, etc., the importer of foreign goods would get five hours of this labor for ten of his own!
This would constitute the equitable reward of labor to both parties. COST being made the limit of price, thus works out the first proposition of our problem, the equitable reward of labor! Legislators! Framers of social institutions! Behold your most fatal error! You have sanctioned VALUE instead of COST as the basis of your institutions! Behold, also, the origin of rich and poor! the fatal pitfall of the working classes! the great political blunder! the deep-seated, unseen germ of the confusion, insecurity, and iniquity of the world! the mildew, the all-pervading poison of the social condition!
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