A new kind of money to end money? An interesting article. . .

all transactions would be REQUIRED to conducted on a charge card - I believe VISA got the nod.

Anyone else hear this?

What that would mean is all the cash you have stashed would be worthless. Is that our next 9/11 false flag?

BTW,

Here's an alternate solution for you:

http://perfecteconomy.com/pg-if-i-were-president.html

Dis away. I know that's what goes on here.

mike montagne -- founder of PEOPLE For Mathematically Perfected Economy, and author of mathematically perfected economy (1979)

http://www.perfecteconomy.com/

Whatever you hope to solve by this currency which already is not solved by mathematically perfected economy™, I have no idea. But unless the intent is to cause confusion, I'd suggest you spend some time first invalidating that mathematically perfected economy™ solves inflation, deflation, and inherent multiplication of debt by interest.

On the other hand, if your purpose is further division amidst an endless multitude of false, unqualified "new" solutions... bravo indeed. The title itself is preposterous. No money of course ends money.

Regards,

mike montagne -- founder of PEOPLE For Mathematically Perfected Economy, and author of mathematically perfected economy (1979)

http://www.perfecteconomy.com/

... Gresham's Law.

Who in their right mind would trade gold-backed currency for a new currency that starts out on equal value with the gold-backed currency, but then becomes devalued at an exponential rate, only to become worthless after a year? No one, unless forced to by law, and now you have a fiat currency again, and a hyper-inflating one at that.

Yes, a hyper-inflating currency will spur lots of economic activity...called panic. Read about Wiemar and you'll see that people will exchange a rapidly devaluing currency for ANYTHING with longer-term value. Grocery store shelves will be emptied of all non-perishable goods, and people will resort to barter of those items because their value lasts longer than the hyper-inflating currency. (see Gresham's law). In this multi-tiered proposal, people will just hold and use the stable currency, and the hyper-inflating currency will be deemed worthless by the market. (See Rothbard about how private competing currencies would work).

As for commodity-backed currencies, it would seem they're much more likely to work only when the notes can be exchanged for something the person values and can actually control its use. Exchanging a currency for 1/10,000th of a piece of public property means you still have zero say over how that property is used, and fear that it could become drastically devalued without your consent would weaken such a currency against most other options.

Top-down social or economic engineering schemes like this do not work, and most economic theories are weakened by this kind of thinking (including some aspects of neoclassical economics). The Austrians, on the other hand, have built a theory of money and economy that starts with the basis of how people value objects, why they willingly work together and exchange goods. It is consistent with the actions and decisions of the individual within society and the economy. It is interesting and entertaining, and I suggest anyone on this site who hasn't done so already to check out some of the free audio lectures from mises.org.

could exist, since governments outlaw competing currencies. Or just confiscate the gold as in the Liberty Dollars, or remove from circulation as in silver dollars of years back.

I've got to admit that the "fourth tier" is impossible for me to understand...

The idea of a currency losing all of it's value in one year sounds like a bad idea. I thought money was supposed to be a storage of value?

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This is the kind of stuff I'd like to see hashed out on here. . .what about you?