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News Link • Business/ Commerce

BAN ALL THE BANKS: Here's The Wild Idea That People Are Starting To Take Seriously

• Business Insider

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Comment by Ed Price
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With the Internet system, we don't need money at all. Here's how it would work.

Currently, if you want to fly somewhere, you go online and look for the best price. We have Internet companies like Travelocity or Orbitz that give you a rundown on the various prices of the various airlines, between your destinations, all in a matter of a moment or two, so that you can make your decision as to how you want to fly.

If you want to compare loads of product prices, there are Internet companies - like PriceGrabber, Price Checker and Pricewatch - that almost instantly display the prices of all the different kinds of products that you request.

The next step is to develop programming that compares products against each other. This would be something like how many AAA-brand recliners would it take to trade for one BBB-brand refrigerator?

Following that, programming could be built that would tell you how many, say, Walmart hours worked would it take to trade for the BBB-brand refrigerator. If you were a Walmart worker, it would take so many hours of work to trade for a refrigerator. But if you were a steel mill worker at Nucor Corporation for example, it would take THIS many hours of work to trade for the same refrigerator.

Companies could even design their own currencies, that would be Bitcoin-style encrypted, and that could be split into the (let's say) thousandth or ten-thousandth part of an hour worked in that company... small enough so that people could trade for a fast-food hamburger. And it all could be computerized so that everyone would be protected, and everyone could check the trade value at any time just to assure themselves that things were being done honestly. At the same time, company cash that had unique serial numbers for each bill, could be available for people who wanted to use cash, all based on an advanced form of the Bitcoin protocol.

Banks and money could be totally eliminated. People would get what they worked for, or what they received in gifts form other people, or what they provided from raw materials in land that they owned. And we wouldn't have this crazy stealing of our labor value by bank-controlled inflation, and by the repaying of loans that were not really loans, but that simply were loans in name to trick us into repaying.

I know, there are some very scary issues with using a system like this. But can it be any worse than the dishonesty of the bankers and the governments that we have now?

Possibly the best 2 things that we all would gain from a system like this are the knowledge of how debt-money systems steal from us all, and how to trade and barter with each other.

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