Richard0Thomas (1548405) writes "The cost to fix the financial systems problem is going to be $206k per
person-on-planet based on the USD 1.405 Quadrillion world wide derivatives
Mi2g. This does not include fixing the inherent core flaws in the worlds
monetary / financial systems. What most don't realize is that the monetary
system is nothing more than an accounting system. Money is not printed except
for convenience, money exists only as an accounting entry. We pay trillions for
the use of the accounting system which any group here could set up and run
charging only 100 million yearly and still make a hefty profit. The complex
sounding financial jargon is simply to obfuscate what is actually going on.
On http://coinage.me they have put it very
simply for everyone to understand.
A few accounting entries is all it takes to fix this problem, literally
erasing the bogus value much to the dismay of a few but not the many. An entirely new system is required to eliminate
the core flaws and a global currency will not work properly for the common
economic system participant because of the disparity between the economies of
various countries. What has been suggested is localized regional value exchange
systems that would interface with other regional systems in a totally
transparent and "natural" market manner.
I will leave you with this thought, if you went to a bank and asked to borrow money to go to the casino what do you think they would tell you? The banks did not need to ask anyone. They should have asked the US citizens because they are the ones backing the banks with a portion of their future labor potential. Sure the odds would usually be better than a casino, but in review of some of the financial instruments the actual odds were worse than the casino."
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