@spendius,
spendius wrote:Quote:Anything we accept in return for our services is a currency.
I once helped a divorcee with some overhanging trees and I readily accepted her rewards. If that was currency what does it say about women?
What does it say about women? That they are richer than you are.
(Nobody ever mentions that one when they complain about the gender gap, eh?)
spendius wrote:Quote:If we handed monetary creation to Wal-Mart (the largest private company by revenue), we would have a less inflationary money supply than if the state did it.
And it wouldn't take long for elections to be for Wal-Mart CEOs. In God we trust.
Possibly. But that would merely make them the state, catch-22.
The point is that the state is the worst possible entity to be entrusted with creating money, because it is the only entity not subjected to economic consequences. A private company would want to maximize it's profits and preserve a somewhat stable currency to not kill the golden goose, i.e. it's ability to print more currency that is worth anything.
There could be a bunch of different corporate currencies, Wal-Mart Dollars, Apple Dollars, if they inflate we merely change to a more stable one, computers could do it for us.