dreamdancer

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would the state be obligated to replace the currency they've issued? nope. the state can halve the value of the currency the individual holds just by doubling the supply. it can supply so much the dollar in your hand is worth less than the paper it's printed on...

You're confusing currency with buying power or value. See Germany after WW1. Millions of marks for a slice of cheese. What had the true value? The mark note, or the cheese?
Barter markets did exist before Friedman. Societies were also fragmented and disassociated, unless there was a tyrannical central government, like Rome to pull it together. Doing business with a gladius at my gizzard ain't my idea of governance.
View the UK. A geographical homunculus in the world, yet a power, none the less. Why? The awareness that a Central Government with a centralized financial institution, that the People have agreed to with the Monarch, was the better way to go. Brits have a lot to be proud of.

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it's a simple economic question - who does money belong to?

does it belong to the individual for instance - or does it belong to the state?

Why don't you answer that for all of us? Another debater has practically turned backloops to get you to answer ANY question.
Orrrrrrrrrr....!! ( Ah hah.!) Do it be that you are incapable of independent probative thought to a conclusion? If so, then I do empathize and sympathize for your incapacity. Having no experience or knowledge if it, myself.
Perhaps another poster might know of a medication that could be helpful for you. Best regards....

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In exchange for my labor, I receive payment. Rather than receiving twelve chickens for a day’s work, I received money as an adjunct.

pretty easy to see the 'value' of a chicken - not so easy with money...

That's why I said it's fiat. The government assigns a value.

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In exchange for my labor, I receive payment. Rather than receiving twelve chickens for a day’s work, I received money as an adjunct.

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venting with mottos, and launching homophobic insults.

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article by - Andy Haldane executive director of financial stability at the Bank of England in London

And..? It's still off the mark, unrealistic, and a proven fallacy.
I suggest you read up on Milton Friedman..... True, you may find it distasteful, as he was an American Nobel prize recipient.

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A key ingredient for success elsewhere has been a common language and shared access to data. At present, finance has neither. But that, too, is set to change. Regulators are talking seriously about introducing common metrics for financial transactions. Alongside that, data warehouses are being constructed to store these raw materials.

There are even moves afoot to put these raw materials to work. The US aims to create an Office of Financial Research to collect data from firms and weave the information into a web suitable for mapping and simulating risk.

So to play clairvoyant, imagine the scene a generation hence. There is a single nerve centre for global finance. Inside, a map of financial flows is being drawn in real time. The world's regulatory forecasters sit monitoring the financial world, perhaps even broadcasting it to the world's media.

National regulators may only be interested in a quite narrow subset of the data for the institutions for which they have responsibility. These data could be part of, or distinct from, the global architecture.

Now imagine the light this financial map might shine. It would allow regulators to issue the equivalent of weather-warnings - storms brewing over Lehman Brothers, credit default swaps and Greece. It would enable advice to be issued - keep a safe distance from Bear Stearns, sub-prime mortgages and Icelandic banks. And it would enable "what-if?" simulations to be run - if UK bank Northern Rock is the first domino, what will be the next?

At present, global finance does not have the technology to ask these questions, much less answer them. The prize is a big, but attainable, one. It would not entirely lift the fog from finance, but it could provide us with a navigation system better able to avoid the next crash landing.

can't believe no-one got my 'bit by bit' joke

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If citizen banking takes off, it could change people's day-to-day reality in the fundamental ways that the now-global Occupy movement is clamouring for. With interest payments going directly to the masses, rather than to banker bonuses and skyscrapers, P2P lending could cause more money to circulate in the real economy. It also naturally distributes risk among many individuals in a potentially more transparent way, rather than concentrating it in large, "too big to fail" institutions.

Slea certainly agrees. in 2010, she got a loan with Lending Club which is now allowing her to rebuild her credit rating. With a growing movement protesting the old system, perhaps the "99 per cent" can start to do things themselves. "We think this is kind of a magic moment," says Larsen.

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i grew up on a working farm - you wouldn't have survived one winter...


You live in Thailand. The winters are usually milder there, compared to, say west Texas, Colorado or Alaska, Germany, Poland, Russia and so forth. Most people, who are not in delicate health or afraid of work, could easily survive.

If, one can handle all that humidity!
Here in West Texas, it got to 10-below zero (daytime temps.) for several days, last winter. We lost a lot of new calves. Plumbers couldn't keep-up, repairing frozen pipes. Summer came and we had upwards to 110 - 115 deg. temps. We have two seasons... winter and summer!


Chuck

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you're the one equating a decent inheritance tax with communism...

No, I am equating an unfair inheritance tax with communism.
You're the Communist and/or Socialist supporter heere, not me. I'm fully in favor of self reliance with charity being voluntary, not compulsory.

in your credo then all tax is communist - thus you are a communist. get used to the idea

Dude, you really need to lay off the Magic Brownies.