View Full Version : Money as Debt, Part II Promises Unleashed

Levi Philos
8th May 2010, 05:09 PM
Money as Debt, Part II is an 8 part series of youtube presentations is produced by Paul Grignon of Vancouver Island, BC Canada.
Sites associated with this effort are http://www.moneyasdebt.net and http://www.digitalcoin.info
95% correct with my writings on the errors at the bottom

1) http://www.youtube.com/watch?v=_doYllBk5No
2) http://www.youtube.com/watch?v=pp7tiySCyb4
3) http://www.youtube.com/watch?v=lG7Jjb0cw9o
4) http://www.youtube.com/watch?v=0-O_yGEI_0U
5) http://www.youtube.com/watch?v=6MwHgpFSQMo
6) http://www.youtube.com/watch?v=vH1M1QaM6SY
7) http://www.youtube.com/watch?v=4GH4OElpZtM
8) http://www.youtube.com/watch?v=iqeTComdm5A

Parts 1 through 5 are accurate. In part 6, Bastiat is presented as though he were English when in fact Bastiat was French.

Hereafter, I shall lump 6 through 8 together and also cover important omissions.

Credit as money and the Uniform Commercial Code (UCC) evolved as solutions to problems that arguably are too extensive to cover in a short video presentation. The UCC in turn today does not clearly address or define what money actually is nor are there any entries in law that assign the seigniorage to the producers of the value that actually "back" the credit entries.

You see, two similar problems exist with carrying on commerce at a distance across land and political barriers and across oceans with the weather problems and pirates.

If you use precious metal coins as a currency and bandits on land (or political bandits who have been characterized as bandits with a castle) set up gateposts and rob caravans, the transactions can never be completed. On the ocean, a storm may sink your ship with the loss of your precious metal coins, or again pirates (who sometimes carried commissions from pirates with castles) might rob your ship.

Letters of credit might be taken, however, these commercial instruments can be revoked and re-issued. Bills of exchange are the same in this regard.

The gold and/or silver coin did furnish a reasonably stable reference standard of value. Ron Paul (who is briefly depicted in this video series) seems headed toward some degree of better regulatory control of banking and while he gives service to the "gold is money" memeplex, I do not know his total agenda. [unknown agenda?]

The Zarlenga model of state issued money is presented as a possible solution. Digital coinage is presented.

However, and this is a large item in my opinion, the seigniorage issue remains untouched. Banking as an agency function to all producers of value is hinted at and the Major Douglas "Social Credit" public dividend is presented.

Using precious metals in a performance bond role is not even hinted at. Divorcing the medium of exchange function from the standard of value function is not hinted at.

Levi Philos
8th May 2010, 05:15 PM
Vladimir Nuri, "Fractional Reserve Banking as Economic Parasitism."

Vladimir Nuri is a pseudonym

Levi Philos
10th May 2010, 09:56 AM
Go to this website: http://www.global-settlement.org/ and get the two PDF files:

Final Settlement part one: http://www.global-settlement.org/archive/Finality-of-settlement-part-I.pdf
& Final Settlement part two: http://www.global-settlement.org/archive/Finality-of-settlement-part-II.pdf

I haven't made it through them yet, but find the money concepts interesting.

10th May 2010, 07:57 PM

11th May 2010, 01:25 AM
Monetary theory fascinates me. Thank you.

Levi Philos
14th May 2010, 07:31 AM
That final settlement paper mentions LOOM as a digital currency model.

Personally, I have major trust issues with digital currency, but note that a very large percentage of the general public is quietly migrating into charge cards, online payments, electronic signature pads etc without any fuss about the direction they are headed.

LOOM is often compared to RIPPLE, so I will give some links on both.

LOOM: http://billstclair.com/blog/loom_electronic_accounting_system.html
https://billstclair.com/loom/ & http://loom.cc/

Loom is used by Graham Kelly of Australia with his e-gold type independent currency that is international, based out of Australia.

Sepp Hasslberger seems more RIPPLE inclined: http://blog.hasslberger.com/2006/03/ripple_pay_open_source_cashles.html
RIPPLE: http://ripple.sourceforge.net/

What news if any on e-gold? Are they still around?

Thanks, Levi

Levi Philos
14th May 2010, 08:57 AM
E-gold: http://www.e-gold.com/

Graham Kelly, Gold Now https://secure.goldnow.st/index.php

An on-line digital gold magazine: http://www.dgcmagazine.com/dp/ (Looks great, but I could not print and a screen capture was difficult)

Commerce Gold: http://c-gold.biz/ (site does not open today)

Links to various digital gold systems: http://getemoney.com/egold_ebullion_pecunix_cgold_liberty_reserve.aspx

The July 1 through July 4 Libertopia conference in San Francisco was canceled - I just made a phone call.
However, there is one planned for Hollywood California October 15, 16, & 17

16th May 2010, 05:45 AM
in the sequel of the Money Masters, it is stated that gold or paper it doesnt really matter. It all comes down to WHO manipulates/manages the money supply - and of course having a currency that is interest-free and the currency being issued by the gov.

And since today banskters have the most gold/silver on circulation, we'll get more of the same. something to chew on.

16th May 2010, 06:49 AM

What are your thoughts on Fekete: http://www.professorfekete.com/articles/AEFNewAustrianSchoolOfEconomics.pdf

16th May 2010, 06:52 AM
I like Fekete.

He's sees the virtues and the faults of the Austrian school, and he looks at the gold market from a mathematician's perspective.

16th May 2010, 06:58 AM
I like Fekete.

He's sees the virtues and the faults of the Austrian school, and he looks at the gold market from a mathematician's perspective.

I tend to agree with his criticisms of Mises so far as I can understand them. Mises's theory is predicated on a faulty definition of Money and incorporates usurious terms in the fundamental definition. Fekete, is more careful to extract the concept of interest and how it can be properly used.

16th May 2010, 07:05 AM
Few besides Fekete have actually held seats on gold exchanges, lived through hyperinflation, and studied monetary history in such depth. He's one of the very brightest minds in all of economics.

Levi Philos
17th May 2010, 06:31 PM
Fekete is very good and the stuff he writes on bills of exchange is worth study.

Larry Becraft sent this: http://www.shadowstats.com/article/hyperinflation-2010.pdf

Hyperinflation 2010, 36 pages. I have not yet read this.