If we continue to use instruments with a finite supply as money, won’t the same existing players just buy up all of said means of payment, to then lend back to us at interest?
Instead of simply changing the means of payment (as technologies such as bitcoin have done), we need to change the fundamental concept of what money is. That is our idea that money is a thing in itself, a limited quantity whose value is derived from it’s scarcity.
Crowdbucks is a project trying to tackle these issues. They have a put together a skilled team with previous experience in consumer credit systems. Some of you may have already come across the film maker, Paul Grignon. His stand-out previous work, Money As Debt 1, 2 and 3, has been an instrumental in educating people how our debt based money system works.
Crowdbucks aims to let people produce their own credit, backed up by future goods and/or services. They estimate 20% of world trade is already conducted this way, through LETS (local exchange trading system), independent of the banking system.
You can find them at;
or maybe dive into the Money As Debt series if you haven’t already done so;