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Re: Making money
by doctorwes on Friday June 02, @03:50PM
A good concrete currency standard should have the following properties:

  • It is a material standard that cannot be created or destroyed arbitrarily by governments or financial institutions.
  • It grows roughly in line with GDP, so you don't have monetary distortions affecting the economy (which happened historically with gold).
  • It is not intrinsically too useful, so that the economy's productive capacity does not suffer from holding large reserves.

A monetary standard which has all three properties is garbage. I propose that we stabilize the global economy by moving to the garbage standard as soon as possible.
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    ( Reply )

    by Trevor on Friday June 02, @07:07PM
    There is a hammer hitting a head somewhere. Or is that a head hitting a hammer? I was thinking somthing more along the lines of a microchip embedded in a crystal. Monkeys like shinny baubles. They would be inexpensive to produce and people would think of them as pretty and worth somthing. Look what Americans payed for Long Island.
    [ Reply to this ]
    Re: Making money
    by dennis on Thursday June 08, @04:25PM
    This is a great idea, and quite practical. Garbage is bulky, but we have to keep it somewhere anyway, and we can know how much we have just by measuring the size of our landfills. We probably don't have to worry much about people actually redeeming it, and unlike gold we wouldn't have to keep it under guard--garbage's very bulk is the defense against theft. There might be a negative environmental effect due to the reduction of recycling, but this would be balanced out by the reduction of litter. And there would be a stimulus to the economy as people consume more, for the sake of producing more garbage. Hard to believe no one's thought of this before...
    [ Reply to this ]
    • One problem
      by Bruce Perens on Thursday June 08, @06:25PM
      This would encourage people to produce more garbage and trade it for currency.

      I'm just waiting for someone to geneticaly engineer algae to make it retain more gold (it retains some already). That will kill off metals investment in a flash.



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