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First of all, I would like to introduce myself. I am a computer programmer from the Netherlands. I am working on a theory of money and banking derived from the "Natural Economic Order" of Silvio Gesell. "Natural Economic Order" clearly states that the root the economic and monetary...
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From what I understand money in most of the western countries is backed by nothing but someone's pledge of debt. The more loans and therefore debt is created the more money there is in circulation. No debt = no money. In other words most western countries have a central bank and practice fractional...