Monday, March 26, 2012

Dave Birch "The Future of Money" 24 Nov 2011

I blogged this once before.

Re-listened today, which brought some fresh perspective.

Money has different functions (store of value, medium of exchange, unit of account). Technology affects each of these differently.

Checks, for example, transform a store of value (bank account) into a medium of exchange.

The Tally Stick government debt market discounted debts across both time and space.

Cash money is a stealth tax, since what is really exchanged is government debt.

The Euro is a doomed currency. So what about the "galactic credit" of science fiction fame?

Tech again puts money creation into everyone's hands.

Should a currency be resource-based (gold standard) or reputation-based (debt standard).

Payments and banking are two seperate functions which our current monetary model conflates.

In a world without cash, what happens to prices?

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