[p2p-research] Who Issues the Money that National Governments then Borrow?

[Patrick Anderson]

Michel Bauwens wrote:
> there is nothing wrong per se in creating money out of thin air
> as long as it is matched by productive activities,

That may be true.  But that is not what I am asking.

My question is *WHO* should create the Money.

For example, let's say we invented a new P2P Money that began to be
popular enough that it could realistically be used as a medium of exchange.

Now imagine this new Money was designed to be "declared into
existence" in limited amounts by each peer...  By the way, I think
this is how BitCoin works.

My question then becomes: Under what conditions would a peer choose to
NOT issue his allotted amount for the year?

I can see peers might borrow from each other AFTER they have already
reached their issuance limit, but why would they choose to forgo
issuing the initial amount they were allowed?


I just noticed this sounds alot like the Basic Income idea.  Each
citizen is *given* a certain amount of Money each year.

If this system were in place, would any of us choose to NOT accept
that handout in favor of instead trying to get a loan from someone
else?

Assuming it is better to get the loan, what are the benefits to
entering into debt as opposed to remaining solvent?


Sincerely,
Patrick Anderson
Social Sufficiency Coalition
http://SourceFreedom.BlogSpot.com