My thoughts on this new idea
Source Keith Smith
Date 01/03/16/18:03

Initially, I have to agree with Michael. It seems almost impossible to think of a world without money.

BUT, I guess with this new idea, I wouldn't need a wallet anymore, just an I.D. holder... I don't know what the world would be like without money, I've never known the world without it. But, what if...

I like the point in this article about the inefficiency of money. It does seem silly to spend time and labor on mints and currency production when ultimately, money isn't worth anything; it has not value in and of itself. Money is just the means of trading for a good without the barter system. Society stopped taking the time to bargain for goods and services, so we printed mony. And we have to pay for having this money.

I'm no expert economist (obviously, I'm in Mircroeconomics), but it seems to me not having money would cut down on a lot of problems we as a sociey face with it now. Everybody knows the price -in dollars- we pay for a good is always more than what the actual cost -in dollars- of manufacturing that good is. This then leaves room for a lot of price-boosting by producers and manufacturers because society doesn't know or take the time to find out how much it costs to make an automobile or a computer. How much does it cost to make a fuel line or a micro chip? Probably about twenty five cents. Going back to the old barter and trade of goods and services idea will eliminate the urge to kick-up prices by producers because nothing will be in dollars anymore, it will all be in eigenutils, or "value numbers". I will have my bundle of goods, and I will trade those goods for other goods and services. If I think a seller is asking for too many of my beaver pelts, then I can go somewhere else that values my pelts more, therefore giving me more for the pelts. Society would learn to negotiate.

With the eigenutil we all would pay less in taxes as well because of that 14 trillion dollar cost of making money according to the article. Without the use of money, big brother would cost less to run. That is just fine with me.

This is just what I think. Bottom line though, getting rid of money would take a long time to take.

What about the rest of the world? Wouldn't we be going backwards in world trade with this step of getting rid of the most powerful currency in the world, the US dollar?

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