Interesting and Humour - page 2551

[Alexey Yanzeev]

Alexey:

there's not just a little bit of tension - there's already so much upset that there's almost nothing left to take out :)

[Alexey Busygin]

Alexey29:
they are not only a bit tense - they are already so upset that there is almost nothing to withdraw :)

They don't know about it yet, they think they are insured.

[Mykola Demko]

I think it's interesting, searching for what gesel money is, I found this...

В 1890 году Гезель сформулировал идею «естественного экономического порядка», при котором в отличие от современного неестественного порядка деньги становятся платной государственной услугой. Вместо того чтобы платить проценты банкирам, люди должны были бы платить небольшую сумму государству (или мэрии) за право деньги не тратить, а хранить. Прекращается процентный рост, исчезает инфляция, деньги перестают «разгонять» экономику, становится ненужной пропаганда потребительства, и, что самое для нас главное, уменьшается антропогенная нагрузка на природу. Люди начинают жить в условиях естественной экономики.

We call this kind of money "hot coupons". "Booms" to distinguish them from the money we're used to. Well, it's "hot" because it burns your hands, demanding to be spent immediately. Financial speculators and drug dealers will suffer the most from the introduction of "hot coupons". After all, even with a 1-2% monthly payment the loss of excessive earnings would be 12-24% a year, and with a monthly payment of 3-4% it would be even 36-48% a year. There would be a change of interest: The problem would not be how to get a lot of money, but how to spend it quickly.

Gesell's theory has been tested in practice, and very successfully.
In 1932 in Vergle (Austria) the council had issued 5,000 "free shillings" (interest free), which were covered with the same amount of the normal Austrian shillings in the bank, and put them into circulation. The fee for using the coupons was 1% per month, or 12% per year, and it was paid by those who had a banknote at the end of the month. There was a special stamp which was glued to the back of the banknote, without which the next month's banknote would be null and void. Although the fee was small, it meant that anyone who received coupons would spend them as quickly as possible. People in Vergle even paid taxes in advance just to avoid losses! These "hot coupons" were used to pay wages, traders would accept them as payment for goods.

So instead of lying in the bank (or in stockings), the money started rolling. During the year the 5000 free shillings were in circulation 463 times, while the regular shilling was in circulation only 213 times. So the same amount of money (5000 shillings) made twice as much useful work for society once that money was no longer able to grow!
At this time many countries in Europe were experiencing terrible unemployment, and in Vergle the unemployment rate dropped by 25% in one year. The fees received by the magistrate were small, but the money went to the public, for the benefit of all. The town built a bridge, improved roads and increased investment in public services. And this is not the only example: communities in many cities and towns (not only in Austria) have successfully used hot coupons.

[Alexey Busygin]

Urain:

I think it's interesting, was looking for what gesel money is, found this...

Well, what's the beauty of it? There's no economy run-up, production stands still, and for the speculator, what's most important is to sell quickly and buy quickly, and whether it's money or coupons is no longer that important. Since this was in such underdeveloped times, such trickery might have been a temporary success. But it did not catch on, so the idea is not so ideal.

[Server Muradasilov]

h

[Server Muradasilov]

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[Mykola Demko]

Alexey:
Well, what is the beauty of it? There is no economic acceleration, production stands still, and for the speculator the most important thing is to sell quickly and buy quickly, and what it will be money or coupons is not so important anymore. Since this was in such underdeveloped times, such trickery might have been a temporary success. But it did not catch on, so the idea is not so ideal.

What do you mean there is no acceleration? The economy accelerates when money circulates faster, the faster it circulates the faster the economy works, it's not for nothing that the Americans have stimulated demand by all sorts of measures. And hot money is just that.

But the interesting thing, in my opinion, is not the Gezelle money, but the fact that a negative scale of interest rates is not only possible, but sometimes necessary.

Look, a positive semi-axis in interest rates gives a preference to growth (usury), I don't judge this as good or bad, I am stating a fact.

Having a preference for "growth" concentrates capital, and it gets ridiculous when the 11th derivative makes money and the real sector doesn't.

A negative interest rate scale gives preference to the real sector, and money-bags capital without direction to the real sector starts to melt away.

Hence, by changing the interest rates on all scales, it is possible to control where the money goes and prevent the collapse of the system in principle. So to speak, from time to time it can be revitalized.

You have accumulated banking capital to rearm the economy, you are welcome to rearm it.

[Server Muradasilov]

h

[Vladimir Karputov]

We're being watched enough as it is, and then there's this:

[Alexey Busygin]

barabashkakvn:

We're being watched enough as it is, and then there's this:

They have nothing to do, so the poor people suffer.