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I have an idea. More than an idea, a high-level software architecture for a distributed banking system based on sound money (in this case silver-backed - but could be gold or whatever). This would not be under the control of any sort of centralized bank. Completely decentralized, much like the torrent...
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Normal 0 false false false EN-AU X-NONE X-NONE MicrosoftInternetExplorer4 Can anyone provide a citation that supports the statement by Hans F. Semholz posted at http://mises.org/story/2414# that Friedman “calls for the issue of government money in the form of non-interest bearing obligations that...
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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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I was listening to Peter Schiff, and I heard him say that you don't have to give up a fractional reserve system as long as you tie it to gold. However, I thought you would want a 100% reserve currency because otherwise the money supply could still change based on the amount of credit in the system...
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Central banks perform a number of functions; basically they act as the government's own bank, holding the government checking accounts and collecting tax receipts, facilitating the issuance of bonds, etc. They are also frequently given regulatory functions, such as the enforcement of fractional reserves...
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There are two answers to this question. 1) The Federal Reserve purchases U.S. government bonds and holds them. The total holdings currently are over $700 billion, so over the entire almost century of the Fed's existence, it has advanced $700 billion to the U.S. government. There is a complication...