DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post

**thushioli** · 09-05-2012, 11:35 PM

That would seem to be one based upon gold or silver or some other substance wouldn't it? Didn't that exist for upwards of 70 years in the early days of the U.S. Why do you see the need to re-invent something that already existed and worked well for so many years?

Our bi-metal system was flawed in that it had a fixed, or artificial, exchange rate between the two. What needs to happen is to separate the functions of transactional money and saving money. That way, you can eliminate the conflict between savers and debtors. Debtors can debt and savers can save without one getting an advantage in the market through artificial pricing of money that tries to serve two masters.

09-05-2012, 11:35 PM	#13
thushioli Join Date Oct 2005 Posts 351 Senior Member	That would seem to be one based upon gold or silver or some other substance wouldn't it? Didn't that exist for upwards of 70 years in the early days of the U.S. Why do you see the need to re-invent something that already existed and worked well for so many years? Our bi-metal system was flawed in that it had a fixed, or artificial, exchange rate between the two. What needs to happen is to separate the functions of transactional money and saving money. That way, you can eliminate the conflict between savers and debtors. Debtors can debt and savers can save without one getting an advantage in the market through artificial pricing of money that tries to serve two masters.
	Quote