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To: Lorianne

Looks interesting. There is a wiki article on it that mentions a couple of problems. The first one I noticed myself is that the creditos they are printing look pretty easy to counterfeit. The other is that it takes some effort to find the goods and services that you may actually need. It’s still fiat money backed by a social contract.

I have seen a suggestion that to help ourselves here that legal tender laws should be suspended allowing the development and use of alternative currencies, possibly backed by something. I’m a little dim on how it would work but I thinking that we are looking at a massive wave of inflation coming.


6 posted on 09/19/2009 3:00:00 PM PDT by Belasarius (Yet man is born unto trouble, as the sparks fly upward. Job 5:2-7)
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Odor


7 posted on 09/19/2009 4:01:18 PM PDT by crghill (You can't put a condom on your soul. I'm an anti-antinomian.)
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To: Belasarius

gold coins or silver coins that are spit 8 ways so that you can give a part of the coin for the cost of the item...


8 posted on 09/19/2009 4:04:14 PM PDT by erman (Give a man a fire, warm him for one night. Set a man on fire, warm him for the rest of his life.)
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To: Belasarius

I think massive inflation is coming as well.
Informal bartering will become more common but I don’t know if we’ll develop a system of “credits” like Argentina.


9 posted on 09/19/2009 5:12:18 PM PDT by Lorianne
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