devalue all currencies, it’s only empty promissory notes

As Dave Cameron says, all countries are in debt. But to who?

The money must be owed to wealthy individuals. Such people can not possibly ever spend that money and if the World Economy collapses it will be worthless script anyway.

As Streseman showed with the RentenMark, money is a fiction and, as such, can be whatever we agree it to be.

I know that I am probably being simplistic but than the politicians, who control our lives, are  not economic geniuses themselves.

 I venture the suggestion that if every country in the world announced a devaluation of their currency to 0.0001% of its present value, the present financial crisis would evaporate.

Country A would no longer owe £1 trillion but a mere £1 million. Country B would no longer be owed £1 trillion but a mere £1 million. However that £ 1 million would still buy the previous number of burgers etc.

Those losing out would be the likes of Jabba the Hutt characters and as they’d no longer have any excess cash, Governments could ignore them as easily as they ignore ordinary citizens.

Advertisements

Tags: , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: