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Author Topic:   The economy needs a 3% GDP growth to function well
Riggamortis
Member (Idle past 675 days)
Posts: 167
From: Australia
Joined: 08-15-2016


Message 12 of 50 (813394)
06-27-2017 7:15 AM


Money for profit.
In my opinion the problem is that capitalists are in control of creating the capital.

http://www.bankofengland.co.uk/...rereleasemoneycreation.pdf

http://www.sciencedirect.com/...rticle/pii/S1057521914001070

The answer in the short term at least, is to nationalise currency. Modern monetary theory and interest free credit. This will at least remove the profit motive from money itself.

https://theconversation.com/...-modern-monetary-theory-72095

We sell bonds when we should be borrowing from ourselves and/or spending debt free money into existence as sovereign creators of our currency. In the private sector, that means business and individuals, we borrow money into existence and have to pay compound interest on it. This is such an important issue because it is so bloody fundamental to everything we do. Can't build a wind farm if it's won't pay back principal plus interest and then some, can we?

We need to realise money is fairy dust. The only REAL limitations on what we can do are natural resources, the people to do it and sustainability/enviornmental concerns. So political acceptance of MMT would be a good start, we can then turbo charge our development towards sustainability.

I can't help think that wind plus hydrogen for storage/on demand is the way to go for energy. Wind requires only steel, copper and magnets to generate and hydrogen produces water vapour. When the wind is generating an oversupply we use it up producing hydrogen and burn the hydrogen when the wind dies down.

With abundant sustainable energy we can focus on automation and technology. Then the sky is the limit! Or is it? Perhaps we'll develop the technology to upload our consciousness into a matrix, real heaven? Lol


  
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