Bank lending policy

"Ronald Raygun" wrote

I don't think so.

"Ronald Raygun" wrote

No, I'm not forgetting that at all.

If you look carefully above, you'll notice that I pointed out that the physical loss/destruction risks for the 'plastic card' system could be designed to be *much* lower than the similar risks to coins/notes.

The 'plastic card' would have a small fire-proof layer around the important bit inside which holds the "value" - avoiding the problem of fire damage (if caught in a fire with the external parts damaged, the internals could then simply be transferred to a new "skeleton" 'plastic card', preserving its value).

The 'plastic card' would, of course, be water-proof.

The 'plastic card' would not be circular (as coins generally are) and so will not be at risk of rolling away & down drains or into crevices from which it cannot be retrieved.

The 'plastic card' would have security features to make it much harder for someone else to use it (fingerprints / PIN / etc etc) - so a reward could be offered if it is lost and the finder would be more likely to return it (rather than spend the money themselves, as could be easily done with current coins & notes).

Reply to
Tim
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Come on. Do a little thinking for yourself: it's because coins come from the tradition that money was the weight in metal that was worth the value of the coin. Politicians mess with a history like that at their peril.

They might. *I* certainly would. But we'd all use coins and cash as well.

When companies try to set this up though, the authorities intervene. There have been many such anonymous gold-backed and e-currencies discussed in Libertarian circles. The sticking point is how to keep governments from interfering. Governments want to know if you're not paying taxes and whether you're usuing the anonymous money to buy drugs and nuclear weapons. They're just nosy that way.

The masses can't even get organised for xmas shopping. That's why governments get to pull so much shit.

More like 2K. So we'll need cash to pay for big stuff like 10K worth of heroin? That's a guarantee that cash will stay around.

And the spooks. They have to buy heroin too remember, and they have the ear of government.

They might, if they thought they could get away with it. Let's face it, they've already abolished money being worth what it says and turned it into funny money.

Seignorage.

FoFP

Reply to
M Holmes

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