Ragnar Celine
Member
Launching a digital currency and moving toward a cashless society is the first step toward the mark of the beast foretold in Revelation.
Nobel winning economist Robert Shiller has a plan for a digital currency to solve the inflation problem. Shiller wants big data to create the perfect electronic money by basing currency units on people'seconomic needs.
Shiller's plan is for sophisticated software to aggregate the price of typical consumer’s daily purchases and a basket of their typical purchases chosen so that the price of the basket in dollars rises with inflation.
Shiller wants to introduce this new digital currency, called a ‘basket’,
into the US economy. It will be free and will protect the value of people's money that would be eroded by inflation.
A credit card company like PayPal or Square Cash will let people send these baskets to anyone in the world. A computer will calculate the amount of currency the recipient needs to buy that basket at that time and transmit the amount.
It works similar to the Unidad de Fomento used in Chile. Most nations have one currency, but Chile has two: the peso and the Unidad de Fomento (UF). Pesos are issued by the central bank and Chileans use them to pay their bills and rent, and to buy food.
The UF is a non-circulating currency used in Chile. It is a shadow currency. There are no UF coins or notes circulating in the Chilean economy. It is a purely abstract unit-of-account, totally divorced from any medium-of-exchange.
Like Chile, the US government can adopt a shadow currency while Americans continue using US dollars for all their transactions.
Digital currency is already on the way to becoming reality. The Federal Reserve has a study group looking at launching a digital currency for moving the United States to a cashless society.
Can inflation really be eliminated by making currency represent a stable unit of purchasing power? Or is this a sophisticated ploy to lure people into submitting to a universal system of control? Now is the time to decide what our real standards of value should be.
Nobel winning economist Robert Shiller has a plan for a digital currency to solve the inflation problem. Shiller wants big data to create the perfect electronic money by basing currency units on people'seconomic needs.
Shiller's plan is for sophisticated software to aggregate the price of typical consumer’s daily purchases and a basket of their typical purchases chosen so that the price of the basket in dollars rises with inflation.
Shiller wants to introduce this new digital currency, called a ‘basket’,
into the US economy. It will be free and will protect the value of people's money that would be eroded by inflation.
A credit card company like PayPal or Square Cash will let people send these baskets to anyone in the world. A computer will calculate the amount of currency the recipient needs to buy that basket at that time and transmit the amount.
It works similar to the Unidad de Fomento used in Chile. Most nations have one currency, but Chile has two: the peso and the Unidad de Fomento (UF). Pesos are issued by the central bank and Chileans use them to pay their bills and rent, and to buy food.
The UF is a non-circulating currency used in Chile. It is a shadow currency. There are no UF coins or notes circulating in the Chilean economy. It is a purely abstract unit-of-account, totally divorced from any medium-of-exchange.
Like Chile, the US government can adopt a shadow currency while Americans continue using US dollars for all their transactions.
Digital currency is already on the way to becoming reality. The Federal Reserve has a study group looking at launching a digital currency for moving the United States to a cashless society.
Can inflation really be eliminated by making currency represent a stable unit of purchasing power? Or is this a sophisticated ploy to lure people into submitting to a universal system of control? Now is the time to decide what our real standards of value should be.