Website review: The End of Money - iTulip.com Forum...
Codebender discovered this in Economics
•3 reviews since Jan 13, 2007
economics
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Codebender discovered 20 months ago- "It took us from 1620 until 1974 to create the first $1 trillion of US money stock. Every road, factory, bridge, school, factory, and house built, every unit of economic transaction that ever took place over those first 350 years required the creation of $1 trillion in money stock. But it only took 10 months to create the most recent $1 trillion and I don%u2019t recall seeing an entire continent%u2019s worth of factories, schools or bridges built during that time. "
- Innomen rated 7 months ago
- Klassy brings up an excellent point. This did all begin with charging interest.
She says...
"See, this is why every major religion in the world outlaws usury. Because if any one single person begins to charge interest on loans, they will eventually own everything in the world. Even Aristotle condemns the practice of charging interest on a loan, but for some reason, the charging of interest has become the backbone of the world's economy. No wonder everything is out of whack."
The only solution will be a cashless society, and we can begin one the second we have the technology to truly camp, biosphere style. The magic backpack will not only allow us to vote with our feet but to spend with them too. - Klassy brings up an excellent point. This did all begin with charging interest.
- Klassy rated 7 months ago
- See, this is why every major religion in the world outlaws usury. Because if any one single person begins to charge interest on loans, they will eventually own everything in the world. Even Aristotle condemns the practice of charging interest on a loan, but for some reason, the charging of interest has become the backbone of the world's economy. No wonder everything is out of whack.
Also, consider Dr. Albert Bartlett's analogy stated in the discussion, which illustrates that the growth of money is exponential:
"Bacteria grow by doubling. One bacterium divides to become two, the two divide to become 4, become 8, 16 and so on. Suppose we had bacteria that doubled in number this way every minute. Suppose we put one of these bacterium into an empty bottle at eleven in the morning, and then observe that the bottle is full at twelve noon. There's our case of just ordinary steady growth, it has a doubling time of one minuet, and it's in the finite environment of one bottle. I want to ask you two questions.
Number one; at which time was the bottle half full? Well, would you believe 11:59, one minute before 12, because they double in number every minute?
Second Question; if you were an average bacterium in that bottle at what time would you first realize that you were running out of space? Well let's just look at the last minute in the bottle. At 12 noon its full, one minute before its half full, 2 minutes before its ¼ full, then 1/8th, then a 1/16th. Let me ask you, at 5 minutes before 12 when the bottle is only 3% full and is 97% open space just yearning for development, how many of you would realize there's a problem?
And that's it in a nutshell right there. Exponential functions are sneaky buggers. One minute everything seems fine, the next minute your flask is full and there's nowhere left to grow.
So, who cares, right? Perhaps you're thinking that it's possible, just this one time in the entire known universe of experience, for something to expand infinitely, forever. But what happens if that's not the case? What happens if a monetary system that must expand can't? Then what? How might that end come about? And when?"
Exponential, but not consistent, not smooth, not continuous. - See, this is why every major religion in the world outlaws usury. Because if any one single person begins to charge interest on loans, they will eventually own everything in the world. Even Aristotle condemns the practice of charging interest on a loan, but for some reason, the charging of interest has become the backbone of the world's economy. No wonder everything is out of whack.
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