Slag, the US$ is something like that, but with a crucial difference. The US$ is owned and run by a little cartel of the rich and powerful, not by the holders of the US$. I hold US$ but I do not own it and define it. The US$ is also beholden to the US electorate, which represents 4% of the world's population, not me or the other 6 billion people.
Also, there are exchange rates all over the place taking a cut every time we normal humans move our money from one currency realm to another, all of which are owned and controlled by state authorities, not by the holders of those currencies.
I'm thinking in terms of a revolution in the good old sense, whereby we the sheeple usurp the bosses who have gained control, serving their own purposes, not ours.
The issuing authority would be the holders of the currency, not the electorate or their political surrogates, who don't hold the currency. Nor would it be an in-gang of Federal Rerserve Board members.
The holders of the currency would not want their savings destroyed, so they would not dilute themselves by issuing a whole lot more. Interests and ownership would be aligned.
It's just another transition from chimpoid kleptocratic dominance hierarchies to an integrated realm of cyberspacoids with mutual self-interest.
Mqurice |
