Replies

You might need to reassess the idea based on some simple concepts.

1) Anything in abundance can be “money”. Optimally it is something smaller than commodities of trade, and when recognized as such by those involved in a trade, it represents a ‘token’ of exchange.

2) This is why socialists want to ration *everything*. Because *anything* that exists in abundance and is wanted can be used as money, which can strip the socialists of control.

3) The Bible is very clear that its references to money means “the coin of Caesar”. So yes, indeed, such money is of, by, and for Caesar, even if it is widely used, and can be taken away by Caesar, or even eliminated, if Caesar wants. (And this economist is suggesting).

4) In economics, “Gresham’s law” is known as an “Iron Rule of Economics”, simply put, it is that “bad money pushes out good money.” If there are two competing types of money, the lesser valued money will be used and the more valuable money saved.

So say the government declares that all greenbacks must go electronic by a given date. This means that at first, everybody wants to spend their money as fast as possible. But after that date, *any* alternative currency becomes much more valuable than electronic money.

Anything in abundance.