[Homestead] gold back currency anyone?
Clansgian at wmconnect.com
Clansgian at wmconnect.com
Sun Dec 7 16:20:57 EST 2008
> >Hourly wages. Check out Ithaca Hours. Participants place the value.
> Very much like barter
>From my reading these local systems seem to have univerally worked .... as
long as they are not interfered with by the larger banking system and its goons.
All these systems remove the pirmary limitation of strict barter, that is,
the transaction need not be direct. If you have a keg of nails and I have a
ham and you want the ham but I don't need the nails, the system somewhat breaks
down.
Systems have also worked when there is some universally wanted, needed, used
item that although you personally don't need it, somebody somewhere someday
will. The oldest documented version of this was the ancient Greeks' use of
'obols', iron skewers for roasting meat. Everyone used them, they eventually wore
out, and they could be easily transported and stored indefinately. Their
earliest issue of bronze coins were called 'obols' after the practice.
Whiskey, rum, tobacco, lead, bronze, arrowheads, molasses, and a host of
other things have at one time been used as a universal medium of exchange.
Keep in mind that the monetary value of gold is fiat just as is paper money.
A jug of rum retains its value, its natural use, no matter what anyone else
thinks. But if no one is willing to trade in gold, you have a shinny yellow
fishing sinker or rifle ball.
James
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