[idiom]

Could a replacement currency/system, be electronic only?

In New Zealand you can live easily without using cash at all. Nearly everything is EFT based, the last thing to go was parking meters, but you pay by txt from your cell phone now.

It would mean strict control of circulation and currency levels not available with current physical currency.

It stops people hoarding, keeps the banking system in your life and give the black market real headaches.

Thoughts?

[shortonoil]

idiom said:

$this->bbcode_second_pass_quote('', 'C')ould a replacement currency/system, be electronic only?

[shady28]

$this->bbcode_second_pass_quote('shortonoil', '[')b]China starts imploding - boasting $

$this->bbcode_second_pass_quote('', 'B')eijing swells dollar reserves through stealth "During the first half of this year, about 67,000 small and medium-sized companies went bankrupt throughout China, leaving more than 20m people out of work," said the National Development and Reform Commission. "Bankruptcies of textile and spinning companies have numbered more than 10,000. Two thirds are on the brink of bankruptcy."

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shady28 said:

$this->bbcode_second_pass_quote('', 'N')ot too long ago, many on peakoil were talking about how China, India, etc would keep on growing and jacking the price of oil up.

[ROCKMAN]

Just a little add on to your interesting post shorty. A few years ago I ran into a fellow who was teaching basic free market business economy to a group of Chinese managers. He said the most difficult hurdle was to get them to believe that profit was a critical part of the process. Time and again, he said, they kept asking the same question: if it cost $1 to make a product how can you "justify" selling it for more than a dollar.

And it is so true about the demand for new jobs. I was in China in 2000 and it was amazing to go into a large department store and see one sales girl for every 30 sq ft or so of isle space. I’m not exaggerating. You really couldn’t find a spot to stand where there wasn’t at least one employee more than 5’ from you. I think any unemployment figures from China can misleading. Just a wild guess but I would say they have at least 3X as many folks employed commercially as they really need. Conversely, their economy could grow 300% and they would have a ready and very willing workforce.

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ROCKMAN said:

$this->bbcode_second_pass_quote('', 'A') few years ago I ran into a fellow who was teaching basic free market business economy to a group of Chinese managers. He said the most difficult hurdle was to get them to believe that profit was a critical part of the process. Time and again, he said, they kept asking the same question: if it cost $1 to make a product how can you "justify" selling it for more than a dollar.

[ROCKMAN]

That's an interesting way of viewing it shorty. Though my experiences there were limited (was there adopting my little girl) they definitely do have a different view of "success". It might well be a throw back to those War Lord days. I definitely got the idea that success was measured by beating the other guy at the game and not how much money you won. Many mornings I watch very tenacious battles where winning was everything. And this was BADMITTON games. From 6 years of age to 80 they put all they had into the game. I could sense just as much machismo as you would find at an NFL game.

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ROCKMAN said:

$this->bbcode_second_pass_quote('', 'T')hat's an interesting way of viewing it shorty. Though my experiences there were limited (was there adopting my little girl) they definitely do have a different view of "success". It might well be a throw back to those War Lord days. I definitely got the idea that success was measured by beating the other guy at the game and not how much money you won. Many mornings I watch very tenacious battles where winning was everything. And this was BADMITTON games. From 6 years of age to 80 they put all they had into the game. I could sense just as much machismo as you would find at an NFL game.

[ROCKMAN]

Actually shorty, the 20 guage is for my little China doll....all 4' and 62 pounds of her. We're divorced now so she lives out in the country with my ex. Cutest thing: those almond eyes with a S TX twang. The plan is to take her on her first turkey hunt next spring.

I agree about the Chinese. I was there just a short while but had lots of time to wonder around that small industrial town. They can take an empty can and a few pieces of string and make a laptop computer. When/if the gov't allows to power to shift downwards they will be unbeatable. I've been around some very poor areas in the world but none with the capacity for growth like I saw there. All they need is a lot of freedom and a little capital. I like to imagine the spirit I saw there was what we had here at the beginning of the industrial revolution in the early 1900's.

[Snowrunner]

$this->bbcode_second_pass_quote('idiom', 'T')houghts?

[idiom]

Oddly, I have it the other way around. I have much less discipline with cash, because it is just play money to me.

Just keeping things like Revelation 13 in mind:

$this->bbcode_second_pass_quote('', '[')16] And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
[17] And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

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Snowrunner said:

$this->bbcode_second_pass_quote('', 'I')t could, but I think that would be a bad idea. Part of the problem we are having today already is that people have no relation to money, because it's just "numbers".