Message:

<p>[QUOTE=&quot;kaparthy, post: 20101, member: 57463&quot;]It is accepted as an axiom of economics that most people prefer the present to the future.&nbsp; This is the source of &quot;ordinary interest&quot; and the time value of money.&nbsp; Most people would rather have a dollar today than $1.05 in a year.&nbsp; However, if you reverse that, if you say that you prefer $1.05 tomorrow to $1 today, you are in the position of a money LENDER.&nbsp; </p><p><br /></p><p>Similarly, one of the basic attributes of money is &quot;acceptability.&quot;&nbsp; It is &quot;universal&quot; or at least transferrable.&nbsp; By that standard, the best moneys are those that travel the easiest.&nbsp; The US Dollar is the world&#039;s preferred currency.&nbsp; USDs travel globally.</p><p><br /></p><p>What if you reverse that?</p><p><br /></p><p>What if you create a money that does not travel well, but that has only a local acceptance?&nbsp; You create an economic cul de sac, a little localized pool of wealth.&nbsp; Values come in and values go out, but with a local currency, some values always remain in the community once they arrive.&nbsp; Thus, the community builds wealth.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in