mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

Mathematically Perfected Economy™ FORUMS, DISCUSSION

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 Post subject: "global greenbacks" to the rescue?
PostPosted: 01 Nov 2009, 12:33 am 

Joined: 21 Aug 2009, 8:01 pm
Posts: 90
On the home page of economist Joe Stigliz's web site, there
exists a link to an essay he wrote, on October 27th of 2009, entitled:

"Death Cometh for the Greenback"

Stiglitz argues that this is good for both the USA and the
World.And I agree.

But, there is a proposal, by Stiglitz, which stands out:

A GLOBAL reserve system could help adress all of
these problems.One way of thinking about this system is
to think of a massivegold mine being discovered underneath
the IMF. It yields, say,$600 billion a year. The IMF could
simply ship out the gold to its members (say, in accordance
with a particular formula based on their income.) Now,
instead of shipping the gold, the IMF issues paper telling
each country how much gold they now own underneath the IMF
building on 19th street. Paper gold, we call this. All that
matters is trust, the willingness of governments to exchange
the paper gold (Keynes called it bancor; one could call it
global greenbacks) for their own currency---and that could be achieved through international agreement. In this situation, everyone has guarenteed reserves.

Stiglitz finishes his essay by saying:

This is an old idea whose time has finally come.

Get it? Stiglitz says that the banks will not lend money
because they will not get paid back. So we need permanent,
debt-free fiat.

For an economist of Stiglitz's stature to suggest this, is,
I say, a signal of the de facto breakdown of our current
monetary system.

So, Mike was right all along.

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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.

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