Using Fractional Reserve Banking, commercial banks
are creating everyday an amazing amount of a true “complementary currency”,
based on debt. This process is potentially UNLIMITED. They create a huge amount
of “money debt” from a very small amount of cash, essentially for consumption and public spending.
Using Outsourced Resources Banking,
a financial institution could create an amount X of a “complementary currency”, like
commercial banks do , backed by a real
asset or an amount of cash, with a standard conversion. This creation of money
will be only used to serve a sustainable project, on any field. Don’t forget the
first use of money is EXCHANGE. This view
is different from local currencies, which are only “tokens" with a conversion
in the national currency.
A currency or a unit of account does not need an intrinsic value , but absolutely a strong guarantee and a clear term of use.
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