This blog by Thomas H. Greco looks interesting. The author, an American, has taken the trouble to address a convention in Malaysia on currency issues,and you'll recall that they're trialling the gold dinar in the province of Kelantan.
Greco thinks that modern technology may let us keep accounts of exchanges without having to resort to traditional forms of currency. I suppose this could be similar to Local Exchange Trading Systems. It's also interesting that he's featured and commented on Ron Paul's proposal that currency systems should be allowed to compete. Greco even looks at Air Miles as one candidate!
What would worry me is the elimination of real currency, even fiat, as it is a bulwark against the electronic dysopia which is the prelude to not very nice times.
ReplyDeleteYes. electronic currency would be open to electronic crime. But I think you mean more - and the Big Brother world is a growing threat whether or not we have electric money.
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