Which Type of Currency Do YOU Prefer?

Various currencies have existed throughout the ages, and can be formerly categorised into four distinct groups in the form of a matrix.  Initial currencies will have been tangible debt-free types, comprising of seeds, gems, gold, silver, copper, bronze etc.  Humanity then developed the dreaded usury and ‘currency changers’ that have plagued the earth for far too long.  Thus sprang into existence the debt-based currency types which have created many problems for society at an individual, group, and governmental level.  Governments/individuals then developed the fiat/paper mathematical concept, which could also be separated into both debt-based and debt-free categories.

I’m sure you’ve heard of John Law’s paper ‘adventure’ in France, and if you haven’t you should familiarize yourself with the underlying principles of that disaster utilizing paper/fiat currency.  Lincoln utilized the concept of a debt-free fiat currency to pay his troops and thus continue the war.  The currency became a problem later when Gresham’s Law came into effect, and the citizen’s wanted gold-backed dollars in payment of good and services, and not Lincoln’s Greenback.  Apparently many Law suits were made at that time regarding the Greenback.

One of the newest fiat currencies to emerge is the debt-based euro.  Unlike debt-based £sterling and the debt-based $US etc, the euro simply sprang into existence, instead of the usual, and gradual, de-coupling from gold.  We all know how well that one’s going, don’t we?  As the title states, I’m curious to how people wish their currency to be?  If you wish for a debt-based currency, then you’re probably on the wrong site, and you should browse the Wall Street Journal instead, parasite!

My preference is for debt-free monetary metals to circulate in my home country – England.  Furthermore, I desire the future ‘new’ parliament of England to allow currencies to compete against each other, with zero taxation, and a ‘new’ constitution Law stating that “no Lawful currency exists in this realm, and never will as long as this parliament exists”.  If you’re curious about government revenue I desire an “import duty” and “export duty”.  The funds from those two duties will be sufficient to operate the government whilst allowing the citizens to use chicken pellets, seeds, metals, debt-free fiat or whatever the most suitable currency is for that particular area.  Most importantly, it creates a government with limited control over the economy – which is always a good thing to do.

Over the upcoming weeks and months there will much debate about introducing a debt-free fiat currency into society, and if the “no Lawful currency exists in this realm, and never will as long as this parliament exists” ACT is passed by the ‘new’ parliament then I shall not be concerned.  However, I intend to caution people that Gresham’s Law will apply if it’s forced upon the public. In essence, the citizenry, having been recently horrified by fiat currency, and being unable to understand the differences between debt-based and debt-free, will store their wealth in gold and silver – not the fiat, even if it is debt-free.

In my home country there is a group called Positive Money that is arguing for a debt-free currency to be introduced over a seven-year period.  The method involves a ‘pool’ for government money in which a QUANGO – the monetary policy committee, a division of the B of E – decides how much revenue the government will need to run the economy.  The debt-free £sterling would flood-out the debt-based £sterling over time, with the result being less commercial bank and government control over the economy.

Perhaps Positive Money is well-meaning, I’m unsure at this juncture, but I see serious flaws with such a methodology.  Firstly, placing an un-elected QUANGO in control of monetary inflation and deflation is unwise to say the least.  I agree that commercial banks and the government shouldn’t and can’t be trusted with this remit, but to believe a ‘think-tank’ can correctly understand the mechanisms of the free-market is extremely naive.  Furthermore, until the characters behind the Bank of England Nominees are revealed, it must be assumed the Bank of England needs to be abolished.

Many perceive the Federal Reserve to be secretive, but the King of placing smoke -and-mirrors before the public is the Bank of England.  Allegedly nationalized immediately following WW2, the B of E is apparently part of HM Government and answerable to parliament.  However, following Britain’s default on debt in the 1970’s the international vultures called the IMF set-up the Bank of England Nominees Ltd.  The company currently holds 2% of shares, is exempt from disclosure requirements, and this Private Limited Company has given itself the remit of:

“To act as Nominee or agent or attorney either solely or jointly with others, for any person or persons, partnership, company, corporation, government, state, organization, sovereign, province, authority, or public body, or any group or association of them….”

Effectively an international money-laundering racket and a complete parasite upon the English people, the Bank of England, along with every other central bank including the Federal Reserve must be abolished immediately following the collapse of the commercial banks.  The Bank of England was established on war and debt between England and France, and has been the scourge of many-a-nation since its abominable conception.  Positive Money is dancing-with-the-devil whilst debating with such folk.  A complete outlawing of usury is what’s required, not grovelling to our captors.

To summarize, I prefer debt-free monetary metal, but realize others may prefer a debt-free paper fiat currency. I desire a “no Lawful currency exists in this realm, and never will as long as this parliament exists” ACT passed in England.  The central-bank theme must be abolished and recognized for the war-lusting parasite that it is.

So I ask the question:  What type of currency do you prefer?

  Debt-based Debt-free
Fiat/Paper The $US, the £UK, euro, yuan etc are all in this category.  Perpetual war and other atrocities feature when this currency is used. Lincoln’s Greenback which served its purpose but succumbed to Gresham’s Law.

UK Positive Money intends to utilize this type of currency.

Tangible The Bank of England was established through loaning the government gold in the late 1600’s to enable Britain to keeping warring with France.  Thus commenced the contemporary debt/war paradigm of the British/US empire. Most logically the first form of currency consisting of seeds, grain and eventually minted coins of specific weight and purity.  My personal preference, and should be accompanied with a veto on lawful currency legislation.

8 comments to Which Type of Currency Do YOU Prefer?

  • Dean

    Though, not capable of writing a well thought out treatise on the subject, it seems that precious metal based monetary systems have been most successful throughout history. Not only were they ‘honest’ systems void of the most repugnant manipulation (inflation, artificially created boom/bust cycles) but served as a check on growth of overbearing govts. and military adventurism. Also, I would propose such a system recognize coinage from anywhere in the world and globally recognized uniform weight and measure of such coinage. Of course, people would be welcomed to barter goods and services also. What about taxation? Well, people would need to agree on what community infrastructure and services govt. should provide, and be able to pay for it. Credit would be extended based on a debtors ability to pay, more easily discernible with an honest monetary unit, and ‘honest fees’ could be charged for repayment versus the multiple schemes of usury we know these days.

    This scheme would most likely result in a less technologically dependent society since such societies are capital intensive and require fiat currency and frac. reserve banking but do we really need dozens of models of smart phones, hundreds of tv channels and gmo foods?? Perhaps an honest money supply would result in a less threatening techno society and inherently more socially just society. I also believe it would require a more engaged citizenry since the individual would be more responsible for their own finances and daily decisions, being that they wont have all of the ‘social services’ and ready, cheap credit available to bail them out.

    Just my .o2

  • John Forster

    People should be free to use whatever they want to for money. The only thing that God’s Law revealed in the Bible (do not steal, do not lie) requires is: honest in all three aspects of whatever you use as money — Quantity, Measure, & Substance. Except for occasional experiments (of which every one has ended with war or slavery or massive theft/poverty) with imaginary, dishonest money — Mankind prefers silver and gold as the Substance. The entire Accounting Profession exercises itself with integrity of Quantity. The theft and slavery comes about because of lack of understanding of the falsehoods regarding Substance and Measure. Please join us in discussions of how to practically reconstruct the [honesty in QMS] Foundation under our paper currency, personal checks, credit cards, and username/passwords technology. Global 3rd-parties like goldmoney.com need to be supplemented with a web of more local businesses to help us transact trade in the old-fashioned way of warehousing, 100%-honest, 100%reserve banking, and clearing mechanisms. No top-down solutions are feasible because the international bankers control the big institutions that need changing. gmail contact is honestmeasures.

  • Gareth

    Hi there Dean and John.

    Please both look again at the matrix.

    Having gold and silver as currency does not precure a just society per se – having debt-free currency gold and silver will certainly help.

    The bankers used to ‘money change’ and loan gold and silver to governments don’t forget.

    I even prefer debt-free paper money to debt-based gold and siver!

    All the best,

  • Dean

    Gareth, isn’t debt free fiat currency susceptible to devaluation/inflation by wanton printing by the issuer govt? Yes, pm’s can be loaned and subject to interest but a least the value of gold can’t be as easily manipulated as fiat paper and the supply of pm’s is ‘finite’ versus the seemingly infinite supply of paper currency that can be printed. Just my thoughts.

  • Gareth

    Hey Dean,

    Even having gold&silver can be inflated and deflated if the gold&silver has an issuer. A governemt or bank could issue coins with nominal numbers and simply melt then down and stamp them with a greater or lower denomination. For example, a government issueing gold could state $3500 on the coin, collect taxes, melt the coins down, and stamp the same-weighted coins with $400.

    I prefer no-issuer, let the markets decide.

    The main ‘enemy’ is debt-based, whether it’s fiat or tangible.

    All the best,

  • Paul Prichard

    You do not get a choice, you are told you must only use this currency rather than being free to use a currency that the free market chooses.

  • Paul Prichard

    You do not get a choice, you are told you must only use the governments choice of currency rather than being free to use whatever currencies that the free market chooses.

  • Gareth

    Hey Paul,

    At this stage that’s correct, but many are already storing/transfering their wealth inot debt-free tangible through the gold and silver purchases that are currently gaining momemtum GLOBALLY. Nothing any government, whether benign or malign, can do to stop that transition of wealth.

    The masters of this paradigm are fully-backed by fiat, and probably have little tangible these days after flooding the market to downplay the price and significance of gold and silver. They’re dying – slowly, but surely, and they’ll have a few more plays to make yet, so be prepared. They took a gamble and probably planned to have a new debt-based fiat in place before now. My ‘gut’ tells me the elite have timed it all wrong though being arrogant. Time will tell.

    This article was simply to ask which currency YOU prefer: So Paul, which type of currency do you prefer – debt-free fiat/paper or debt-free precious metals?

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