[p2p-research] excellent contribution on flow money by Martien van Steenbergen

[Dmytri Kleiner]

On Tue, 26 May 2009, Ryan Lanham wrote:


>       The reasons people "own" money is that we store consumption
>       until when it is advantageous.
> 
> Yes, that is one of the most useful traits of money: it abstracts trade from
> time and space. That is, you don't have to trade 3 chickens for a ham at the
> exact time and place, you can sell your chicks and buy something else from
> someone else at some place and some time. Let's keep that trait.


This is one the most destructive traits of money, real wealth can not
be stored at no cost, or actually negative cost (positive interest), to the 
owner. Such a form of wealth can only extend from granted privilege, most likely 
enforced by state violence.

This feature of money, money as a store of value, is esentially a
transfer of wealth from future producers to current owners.

This theft of future value from it's producers is among the sources of
the great inequality of the world, and any form of exchange based on the
ability to "store" consumption at no loss or risk would perpetuate inequality.

That is why Gessellian "friegelti," i.e. stamp scrip, has demmurrage 
(negative interest) as a feature.

I'm jumping in late, so appologies if this has already been covered.


-- 
Dmytri Kleiner, aspiring crank:

http://www.telekommunisten.net