Hi Stephen! I hope you’re having a great day. And thank you for trying to respond to my request for more details.

But let me just consider your first paragraph above, to show you why I’m saying you are being vague.

“The rule: All sovereign debt shall be financed with Shares of global fiat credit, that may be claimed by each adult human on the planet, held in trust with local deposit banks, administered by local fiduciaries and actuaries exclusively for secure sovereign investment at a fixed and sustainable rate, as part of an actual, actionable social contract”

“All sovereign debt shall be financed” — Sovereign debt already is ‘financed.’ Why would it need to be re-financed?

“Shares of global fiat credit”- It’s not at all clear what this means. Who would issue these ‘shares’? Why would they be worth anything? Would all countries on Earth be expected to join this system? How would they be persuaded to join? What would happen to the current owners of government bonds etc?

“that may be claimed by each adult human on the planet” — How would they claim them? Why would they claim them? What would be the benefit of owning these ‘shares.’

“administered by local fiduciaries” — Who would appoint these people? What powers would they have?

“exclusively for secure sovereign investment” — What form of investment are you referring to? How are these ‘shares’ related to investment?

And perhaps the biggest question would be: Why would such a system be required in the first place? What problems do you imagine it will solve? How will it solve these problems?

And I could continue in a similar vein with your second paragraph:

“My argument is that this simple structural change will standardize money creation globally, create a sufficient supply of sustainably priced credit globally proportional to population, distribute to each adult human on the planet an equal share of the interest paid to create money, create globally accepted fixed exchange currencies that represent a fixed standard unit of cost and stable store of value, and provide a rational basis for economic interaction to support and enable rational action”

“standardize money creation globally”-Why would you want to do that? And are you suggesting you could somehow get all the world’s governments and people to agree not to create money through other means?

etc. etc.

So, Stephen, perhaps you will now better appreciate why I am saying your proposals are somewhat vague?

I am not dismissing your ideas out of hand, but you haven’t made any sort of clear case for any sort of clearly-described, realistic proposal. And the likelihood remains that your whole endeavour is based on your own misunderstandings about Economics and about the money system.

So the advice I would give to you is: Take a step back from this pet subject of yours. Go and study Economics from the ground up. And then try to take a fresh look at your own ideas to see if you can make any sense of them.

That’s my advice. It’s up to you whether you take it.

All the best!

Written by

Tech Fan, Philosopher, Economist and Basic Income advocate. tiny.cc/RJMedStuff

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