Economic transactions beyond borders, banks, and bureaucracies
(only producers create money)
Removing the constraints of currencies so that everyone can prosper
On the one hand we have skills, and on the other, needs. Without money skills are unemployed, and needs, unmet.
Money does not come from vaults, but is created with bookkeeping by private corporations called banks. Even governments go to banks for money.
Bank money is issued as debt (claims on your assets) at compounding interest causing recessions, unemployment, and bankruptcies through no fault of the user.
Mutual Credit is simply accounting for work (employing skills and meeting needs) without debt or interest.
Derivatives and currencies far exceed GDP and trade, threatening a system that has to keep “printing”. We need alternatives to transact and survive.
One the one hand we have skills and resources, and on the other there are needs, wants, and desires. Somehow needs cannot be satisfied with available skills and resources without some magical medium called money.
The most common sources of money are mining, debt, and credit.
Once upon a time there was a skilled carpenter who had a reputation for reliability and magnificent furniture for homes and businesses. Over the years he built up a well-equipped workshop, with an adequate warehouse full of selected materials alongside. One morning he was working on an order to outfit a new store, when heContinue reading “Short of Inches”
Ryan Fugger: The Ripple service allows payments between interconnected friends and businesses. Normally, if your friend Alice owed you $10, she would have to pay you back before you could make any use of that debt. If you were creative, however, you might be able to pass the debt on to someone else who knewContinue reading “Network of Trust”