Ozmirage, Emerald City of Dreams : Dr Evil Dictator (http://www.ozmirage.org/anic/tiki-view_blog.php?blogId=3 - broken link)
Dr Evil Dictator's sure fire cure for unemployment
(a follow up to the
sure fire cure for the economy)
As the masses are reminded, there is unemployment. As the masses are not reminded, the cause is a combination of socialism, usury and scarce money tokens.
We will discuss socialism later, but let's focus on usury. Usury is not just excessive interest, but any interest, any fee, payable in money for the use / loan of money or extension of credit. The usury creates an obligation for more money tokens to repay principle and interest. And the scarcity of money tokens is behind the demand for credit, at usury.
Unfortunately, due to the mathematical impossibility to repay all usury, a proportion of debtors must default. And as we can observe, with respect to the speculative bubble burst in mortgaged housing, the collateral pledged may not cover the outstanding contracted obligation, injuring debtor and creditor alike.
Extricating the masses from usury and debt-credit money tokens (dollar bills, aka worthless securities), requires a substitute means to account for trade, and facilitate the trade of surplus goods and services. And unemployment is definitely SURPLUS (unused and available) labor.
In the "sure fire cure for the economy", one powerful solution was private promissory notes (aka "coupons") denominated in that which the issuer can produce, trade, or perform. Thus the local marketplace is freed from the obstacle of money scarcity.
So how does that affect unemployment?
The "official line" regarding unemployment is that it is caused by a drop in demand for goods and services. Which is driven by a drop in prosperity of the consumers who cannot afford to spend. And their drop in prosperity is linked to the collapse of collateral in the speculative marketplace and the collapse of institutions of usury.
The actual truth is that money madness - the fervent belief in the abstraction of money - superseded the reality of the marketplace.
Remember, "classic economics" states that price is driven by supply and demand. As demand falls, so should price. So why can't we "buy" all that cheap labor (or its output)? Socialism, for one thing. The socialist tax and bureaucracy imposes a hidden surcharge that inflates the PRICE for hiring labor, no matter what the supply or demand is. In fact, the hiring of undocumented (off the socialist roll) labor is driven by the immense savings from avoiding the expenses imposed by socialist government.
Dr Evil Dictator decrees that his minions should emit, trade and honor private promissory notes in lieu of lawful money or funny munny *(dollar bills), to facilitate trade.
An example:
An unemployed laborer needs groceries. Instead of begging for socialist charity (relief, welfare, food stamps, etc), he issues promissory notes, denominated in hours of his labor. He trades them for groceries, necessities, and what ever.
His notes are eventually tendered back to him for discharge, with either his promised labor, or a trade of something of equivalent value (in which all parties are satisfied).
This private trade in notes will require that the issuers be known for their credit worthiness - not that they can "borrow money" but that their word is their bond. When their note is tendered, they discharge the obligation satisfactorily.
The ramifications of private promissory note emission by productive people and enterprises are :
1. No contrived limitation on the medium of exchange, controlled by the financial institutions;
2. No usury;
3. Hiring / finding new labor is as simple as buying / trading for outstanding labor notes;
4. No bureaucratic overhead;
5. Private coupons expand and contract with the marketplace of goods and services available;
6. No taxation on the "right to trade" with private money tokens; (Coupons are not taxable)
7. No restriction on investment, via promissory notes.
.....
In a hypothetical small community, like a small town, that has lost its industrial base (the factory moved out), the influx of cash has dwindled as jobs have ended.
However, there are still numbers of capable laborers, and demand for services, goods, and therefore trade should be possible. But it isn't happening, because folks don't have 'enough money' (funny munny, in this instance).
An entrepreneur decides to open a restaurant - everyone has to eat. But he has no capital. Folks know he's a skilled cook and has enough business savvy to keep books. So he emits private promissory notes denominated in meals. These notes are used to purchase his raw materials, his building, his labor, and his fuel. Shortly thereafter, he opens his restaurant, with the bulk of customers being those with his "free meal" coupons. With each tendered coupon, he discharges that obligation with a meal.
As any good cook should, the value of the finished meals should be greater than the initial cost for the raw materials, overhead, labor, and so on. So when he has finally discharged all his promissory notes, anything he sells for money (or other notes) is 100% profit. He already discharged his initial capitalization, via the private promissory notes.
And if he needs to capitalize more, he issues another round of notes (coupons) to his suppliers, laborers, etc. As his reputation is enhanced by the good meals, his notes readily trade amongst the community, as folks who don't necessarily need his product, but may need something else of equivalent value.
His example is replicated in many ways, across the community. Instead of poverty and unemployment, people are busy generating goods and services, discharging notes, and enjoying prosperity - based on the reality of surplus production, trade, and consumption.
Making your own money token was and is the solution to unemployment and economic depression.
In essence, producers should always have the power to create the medium of exchange with which to trade their output. Laborers should have the power to make the money used to hire them. Businessmen should have the power to make the money needed to buy their product. Who else should have that power if not the producer of goods and services?
Certainly not the government - government makes nothing but more government. Government is a net consumer. Giving government the power to make money is like making the fox chief security for the hen house. Ditto for banks (usurers)... usurers are running a scam to rob their customers. This has been known for over 3500 years.
And frankly, private promissory notes have been lawful from DAY ONE. However, folks were tricked into issuing those notes denominated in MONEY TOKENS, which were not something that they could produce, create, or have. (If they already had the money, why borrow it?)
And pursuant to the USCON, Congress has no power to make money either. It has the power to coin money (stamp bullion) or borrow money. If it ever had the power to create money, why would it need the power to borrow it?
Dr Evil Dictator has spoken - make merry and prosper!
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
