Banning cash and NEGATIVE interst rates.

@dollars, I just interpreted your comment to mean that if cash is not offered, then you'd be free to take the goods for sale. Clearly I got it wrong.

As far as the rest of your post goes, I wholeheartedly agree and it shows how important "good faith" is in many transactions we do and how it assists the transaction process.
 
hardyakkagold said:
Oh for fucks sake!, so there hasn't been any advice from the RBA that it intends to replace cash with CBDC and you believe the lying sods.

These are the same SOBs who told you last year there would be no rate hikes till next year, how did that reassurance work out for you?

What they say they will do and what they are actually planning to do are two different things.

I thought you would have woken up to that by now.
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Always prepare the opposite of what they say and you'll do just fine. That's how it works in clown world.
 
mmm....shiney! said:
@Real $ Return, view it this way: in the light of all the world's currencies, economies and political systems, which is issued by the world's largest economy and therefore able to offer the greatest security and stability? That's why it's the currency of choice when dealing in international trade. We could use NZD but nobody knows where that is. :p

Though paperclips would make more sense. ;)
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How about bottle tops? (I have just been introduced to the Fallout universe) +D
 
Michael Kay said:
How about bottle tops? (I have just been introduced to the Fallout universe) +D
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https://1063thebuzz.com/do-you-know-about-bottle-cap-alley-here-in-texas/
 
Michael Kay said:
How about bottle tops? (I have just been introduced to the Fallout universe) +D
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The New California Republic issued dollars in gold coins which circulated in the 2240s (Fallout 2) but gave that up in favor of fiat paper by the 2280s (New Vegas) to fund their eastern expansion campaigns. In response to the (predictable) devaluation, Hub merchants reverted to bottle caps.

Caesar's Legion issues silver Denarii and gold Aureus coins, so they're ersatz-Roman militarist slavers but at least they have a sound and stable currency.
 
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Roswell Crash Survivor said:
The New California Republic issued dollars in gold coins which circulated in the 2240s (Fallout 2) but gave that up in favor of fiat paper by the 2280s (New Vegas) to fund their eastern expansion military campaigns. In response to the (predictable) devaluation, Hub merchants reverted to bottle caps.

Caesar's Legion issues silver denarii and aureus gold coins, so they're ersatz-Roman militarist slavers but at least they have a sound and stable currency.
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Well said :)
 
Roswell Crash Survivor said:
Caesar's Legion issues silver Denarii and gold Aureus coins, so they're ersatz-Roman militarist slavers but at least they have a sound and stable currency.
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Hard currency was invented in order to fund State sponsored violence whether against foreigners or its own citizens. Further, the larger the hoard of hard currency the larger the security required to protect it. It is also prone to devaluation, fluctuating commodity prices and the flow of international trade.

It is therefore neither sound nor stable.
 
mmm....shiney! said:
Hard currency was invented in order to fund State sponsored violence whether against foreigners or its own citizens. Further, the larger the hoard of hard currency the larger the security required to protect it.
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That reads vaguely like Kropotkin. Are you willing to elaborate further on how hard currency as monetary policy is used to facilitate state expenditures on 'sponsored violence'? If both hard and fiat currency facilitates state spending on warfare, then what alternative do you propose?
 
Roswell Crash Survivor said:
That reads vaguely like Kropotkin.
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The anarchist bit = yes, the communist bit of Kropotkin = No.

Roswell Crash Survivor said:
Are you willing to elaborate further on how hard currency as monetary policy is used to facilitate state expenditures on 'sponsored violence'?
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I'm from the camp that holds that debt eg IOUs recorded on ledgers was the first form of "money". As states began to grow rulers needed to have armies of men at their ready so hard currencies were introduced to pay soldiers so that they could meet their needs. Merchants and regular types weren't too fond of issuing credit to what were essentially paid killers because of the general nature of soldiers in those times were able exchange value using hard currencies produced by the State.

Roswell Crash Survivor said:
If both hard and fiat currency facilitates state spending on warfare, then what alternative do you propose?
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1. Embrace libertarianism.

2. Embrace competing currencies that can be inflated/deflated in response to the price of goods.

As long as the State exists, and as long as one of its functions is to provide services to its citizens, there will always be a need for fiat. The issue of State sponsored violence is not fiat's doing, it just makes it easier to fund. The solution is not to change how it is funded, but change the mentality of those who seek violence as a means to an end.
 
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