Free Republic
Browse · Search
News/Activism
Topics · Post Article


1 posted on 02/13/2013 5:38:32 PM PST by george76
[ Post Reply | Private Reply | View Replies ]


To: george76

The national governments should perhaps worry about this.

A corporate currency would be tied to the corporations products. So and Exxon “Petro” or Amazon “Booker” would, in effect have an intrinsic value based upon the value of the product being marketed because corporations could not issue more of the currency than could be redeemed for the products they provide.

That would make them safer currencies in many ways.


2 posted on 02/13/2013 5:46:14 PM PST by Fai Mao
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76

Quite an interesting story.

Unfortunately in my view, all the competing entities he mentions are also in league with the progressives.


3 posted on 02/13/2013 5:47:24 PM PST by nascarnation (Baraq's economic policy: trickle up poverty)
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76

What garbage.

Government needs to be the coiner of money.

The exact trouble with governments that have central banks, like the Fed, is that money creation has been turned over to the private sector, specifically, a very small group that engineered the establishment of “central banks”.

That small group now is loan shark, I mean, lender, to the government, instead of the government creating money that it has every right to.

And now the people find their government beholden to this money-monopoly, allowing their associates to puppetmaster the whole country.

Any government that does not create its own money is forced to borrow when reaches the limits of taxation and finds that it still needs more money. And the lender certainly will do everything he can to make sure the government outspends its taxing capability.


6 posted on 02/13/2013 6:26:38 PM PST by PieterCasparzen (We have to fix things ourselves)
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76
From the article:

Of course, governments and central banks will try to stop it. duh They won’t give up their monopoly over money without a struggle. double duh A virtual currency will never be legal tender. credit cards are legal and virtual But the online universe is very hard to regulate. Governments haven’t managed to stop spam, no incentive or pornography, lost first amendment battle and I wonder how much porn the Chinese have access to? or terror chat rooms, and give up their easy to get publicity entrapments? or any of the other online activities they don’t like. I wonder how megadownload owner is feeling? How's online poker working out for you? There is little reason to imagine they can prevent virtual currencies circulating either.

9 posted on 02/13/2013 6:48:24 PM PST by Diplomat
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76

Microsoft has already started something similar to their own currency, with MS Points.


12 posted on 02/13/2013 7:17:14 PM PST by Ellendra (http://www.ustrendy.com/ellendra-nauriel/portfolio/18423/concealed-couture/)
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76
Amazon can't mint “currency”, only the government can determine what can be used to pay taxes and satisify contracts.

However if the Amazon “Money” holds value better than the Federal Reserve notes, then it will have great appeal. People can easily redeem Amazon Money for Dollars as they need to pay taxes, etc

13 posted on 02/13/2013 7:27:49 PM PST by desertfreedom765
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76

You disregard the largest export nation on earth?

(China)


14 posted on 02/13/2013 7:30:30 PM PST by Cringing Negativism Network
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76; Cringing Negativism Network

China trade now bigger than US
http://www.freerepublic.com/focus/f-news/2987190/posts


15 posted on 02/13/2013 7:56:57 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76
At the time of the launch of the iPhone 5, there was speculation that Apple AAPL -0.19% would include a banking function, and perhaps even a currency — an iCoin would, of course, be much the same as everyone else’s money except twice as expensive and really cool to look at.

LOL!

19 posted on 02/13/2013 10:24:17 PM PST by Slings and Arrows (You can't have IngSoc without an Emmanuel Goldstein.)
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76

It’s wildcat banking all over again.


20 posted on 02/13/2013 10:55:30 PM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
[ Post Reply | Private Reply | To 1 | View Replies ]

To: george76

He overlooked PayPal.

PayPal is truly the upsetter technology use. The currency is in reality a PayPal loan. Paypal issues a short term loan that effectively adds to the money supply. Your purchases via Ebay are made on credit. Trade is facilitated with money that is created by Pay Pal. The money doesn’t exist except on the electronic PayPal ledgers.

The interesting thing is that PayPal has gone international. Your direct purchase to a Hong Kong or Taipei merchant is paid via payPal, the shipment is made via UPS or US Mail assigned a tracking number. Shipment is made when the shipping document is recorded and money actually transferred when the delivery receipt is made. Currency differentials are absorbed into the PayPal ledger system and are transparent to the buyer and seller.

Pay Pal is now duplicating in seconds by the two parties to the transaction what the big international banks do in and xpensive and time consuming manner.

Orlin G Grabbe was correct but about 10 years ahead of his time. His Rand could probably gain transaction today.


23 posted on 02/15/2013 6:21:19 AM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
[ Post Reply | Private Reply | To 1 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson