[p2p-research] Part 2. How Often Have Sovereign Countries Defaulted in the Past?

[Ryan Lanham]

On Sat, Jul 10, 2010 at 5:32 PM, Alex Rollin <alex.rollin at gmail.com> wrote:

> On Sun, Jul 11, 2010 at 12:09 AM, Ryan Lanham <rlanham1963 at gmail.com>
> wrote:
> > All value is an agreement.  That's why markets are essential.  Value
> cannot
> > be mandated.  It can only be agreed.  Money works because it is the
> perfect
> > P2P technology.  Value agreement can be a state function, only so long as
> > the state is itself a valid peer amongst other states.  As soon as peer
> > status is lost, then value is no longer agreed.
>
> I think this is one of several reasons
>
> 1.  our conversations on this list re-visit the topic of currency
> regularly.
>
>
Money is at once simple and also profoundly complex.  People like to think
that value can somehow be implicit.  It never can be.  All value is always
and everywhere agreed.  The largest market in the world (by far) is the
daily agreement by banks as to what a currency unit (any currency unit) is
worth.  Either it floats, or it pegs to a currency that floats, or it is
only of value within the borders where soldiers or police can make people
take it for goods and services.  It is in everyone's interest to have
currencies revalue regularly.  Indeed, if they do not do so, we are all in
great danger because if we wish to go somewhere or have some thing (e.g.
fuel) from another country, we cannot know that we can get it.



> 2.  the 'creation' of a currency system between peers is one of the
> most beautiful learning experiences in the world.
>
>
Agreed.  And it is as old as human history.  It can be done afresh by a
small group, or by a new nation...and often is so.


> 3.  the management of currency systems between peers is one of, if not
> the most, (potentially) complex tasks imaginable.
>
>
Indeed.  It is the province of those who run central banks, budgets, and
those who buy, sell and hold debt as an investment in the future.  Anyone
who has a currency unit in their pocket, a mortgage or a loan of any sort
for any good or service is part of a vastly complex fiscal economy.


> Today I put together a "P2P Currency Systems" page at
> http://p2pfoundation.net/P2P_Currency_Systems.
>
> The content of the page comes from a special "P2P" section on each of
> the systems covered.
>
> If you ave ideas about what makes a currency system "P2P" send them over to
> me.
>
>
P2P is the agreement to transact between two persons in such a way that a
number of social goals is realized...usually by sharing a common framework.
Currencies are a commons.  Those who do not understand that, simply have
little or no idea what P2P is.  A commons is agreed and shared mode of
respect maintained for a properly regulated and protected sphere.  It can be
small or large.  Currencies are the largest commons.  They can be shared by
all, or shared by a few.  In my view, the more who share them, the better
they work.


> Alex
>
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>



-- 
Ryan Lanham
rlanham1963 at gmail.com
Facebook: Ryan_Lanham
P.O. Box 633
Grand Cayman, KY1-1303
Cayman Islands
(345) 916-1712
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