The inevitable change in our monetary system?

January 20th, 2010

Everywhere now there is the dawning consciousness among thoughtful minds that this age contains elements not understood or contained within the working rules of the older systems of government, economics, sociology, or even religion, and that it is due to new principles that have to be introduced into the base and can in no wise be met by a change in the superstructure of society. Even more remarkable, almost incredibly to those who have been hitherto lost voices crying in the wilderness, is the swiftly growing volume of agreement that it is the obsolete and dangerous monetary system that, primarily, is at fault. [...] All are agreed that here at least change is inevitable, the only doubt indeed now being whether any part of the system, which through a lack of imagination as to what might have been is still apt to be described as having “worked well in the past”, can survive into the future.

This was not written in 2008 in the wake of the great financial crisis, it was written in 1934 by Frederick Soddy in his book The Role of Money. Here are many of us, almost 70+ years later saying the same thing. I really hope we don’t have to wait another 70 years.

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Posted by Guillaume Lebleu Filed in Uncategorized
Comments
  • Piper
    Oh, thank God you didn't write that first paragraph.. it was going to take everything in my being not to harass you about it, but indeed, encrypted scripture aside, we are facing unprecedented times and the way we use $$ must to evolve with society. I consider the 22M raised via text donation directly to the Red Cross in the first 4 days of Haiti's disaster wake and the 500K per hr raised via text during the NFL playoffs to be a sign of real progress with respect to currency. Could it be that the old systems create too much of a lockdown, unable to evolve with the every increasing speed with which society converses? Afterall, currency is meant to flow.. and I'm glad at least money reaching disaster relief agencies is not the issue over in Haiti..
    And now for a fav' quote from an all-time fav designer ;)..
    “My heart has always been divided between the vestals of constancy and the avatars of change”…. YSL
  • A_koreman
    Basically everybody knows that wealth can only be produced from work. In times of unemployment work is lost and poverty is the result. Our present monetary systems cannot lower government debt without creating high unemployment. This is because the means of exchange (money) is not similar to what it has to exchange (work and produce). Work or produce is lost when it is not used. Money is not. Therefore a new type of money with the possibility of bearing both positive and negative interest cannot be avoided if the problems of high unemployment and high government debt are to be solved. This new money is the Aurum. It's value is to be kept at a twenty years simple moving average (SMA) of the price of 0.1 gram (100 mg) of gold. But linking a new type of money to a broad commodity index or even to the SDR is also a possibility.
    Every country can introduce the Aurum without any international agreements, but it would help if all countries would use the same basis. Please check how it works on www.digigeld.webklik.nl
  • Thanks for the comment. With regards to Haiti, It's nice to see money flowing faster where it's needed, but I'm looking at a deeper change. I wish every donor could receive a digital certificate of their donation, which they then could take to the businesses/retailers they go to and ask them to accept inlieu of regular money. In other words, circulating good deeds, rather than bad debts. Thanks for the quote too.
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