I have an idea: Its banking without interest” but the fundamental differentiator in this idea is the nature of money itself: money is merely a medium of exchange, not a commodity to be traded. It has no intrinsic value; its simply a piece of paper. Financial transactions must have an underlying attachment to the “real economy” for its use. Real assets must be bought and sold as opposed to the trading of these intangible pieces of paper ..... like the infamous derivatives that brought down the banks like Lehman Brothers and the economy in 08. And because money itself should have an asset backing, it cannot be created out of thin air. This should be a blueprint for a stable global economy and one which can bring long-term societal benefits.
Posted on: Fri, 12 Dec 2014 06:02:35 +0000
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