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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Stock Farmer who wrote (21211)	7/14/2002 5:55:18 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

John, I more or less agree with you on that review. But the second IOU can be paid whatever currency is chosen: $, gold, shares, Kiwi$, Q which is of course my favourite - the share-backed cyberspace replacement for the anachronistic "In God We Trust", which really means Uncle Al and GeorgeW and co. "In Gold We Trust" is a silly idea based on digging up gold and putting it back in another hole at enormous expense - suitable for Aztecs who didn't have computers and cyberspace perhaps, but a complete waste of effort. The Q can be created with a few pixels and multiple redundant servers using the sharemarket as the traded property. The communist system which the USA currently uses, where the state owns, on behalf of the proletariat, a monopoly on the means of production and supply of US$ has been shown over the last century to not be the ideal way to run human affairs. The commie USA is in a battle with currency freedom. Since the rest of the world doesn't have an interest [meaning share of ownership] of the US$, is not allowed to vote, but is dependent on the US$, the USA Proletariat should not be surprised that we seek our freedom. When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation. Freedom is the imperative. The right to self-determination; the manifestation of free will, without a perpetual impost from an arbitrary ruling country with no representation by those ruled. We have determined to cast aside the yoke. We refuse to remain in perpetual servitude to the biggest monopoly in human history, which is held for the benefit of 5% of the world's population. As you point out, whatever we own is founded on trust. But the broad experience of humanity is that it is safer to trust the foundations of human nature than capricious political power seekers controlling a monopolistic money system for their own benefit and that of their supporters. That is the strength of democracy. That is the strength of diversity. We, the People, wish to own our own money system. We wish it to be based on the foundations of human creativity, productivity and freedom; the gamut of human desires. As you point out, the second promise is dependent on the first. We can eliminate that second promise by converting the first promise to a payment system. The governments of the world have no business running money systems - they should be providing security, enforcement of contracts and such services. The governments love running money systems because they can milk the users by diluting them daily. As always, governments run things horribly inefficiently, so the money system is a drag on the flow of trade even apart from the dilution aspect. Cut out the layers of bureaucracy and set people free! Since they won't set us free, we will take our freedom. We will declare independence. As you say, at present, the second promise collapsing can be a function of the first promise collapsing. But it has its own failure modes, without the first promises going awry. That's because of the political chicanery and electorate stupidity on which the second promise also depends. We are in double jeopardy. Yes, it makes sense that a large splatter zone was created by the telecosmic irrational exuberance. The fewer promises the better. Cut out the middle man and go straight to Irwin Jacobs' promise. There's no reason to put another layer of promises, especially ones made by politicians and American J6P voters, who have no clue and care nothing about the lives of billions of us. Not only that, they extract payment from us for running a dodgy currency. No taxation without representation say I. Mq