Future Financial Systems

Here’s a little paper submitted to (but probably not accepted as a ‘main’ talk, too many heavyweights) the Buddhist Economics conference in Ubon Ratchani on the 9th/11th April 2009.


Heres a nice quote from here: http://www.whitings-writings.com/diatribes/ehe03.htm to go with it:

The first three factors can also be made to interact among themselves to the advantage of those who understand their operation. In two of the Money Pamphlets Pound quotes a favourite passage from the Law:19
Perhaps no financier has ever lived abler than Samuel Loyd. Certainly he understood as few men, even of later generations, have understood, the mighty engine of the single standard. He comprehended that, with expanding trade, an inelastic currency must rise in value; he saw that, with sufficient resources at command, his class might be able to establish such a rise, almost at pleasure; certainly that they could manipulate it when it came, by taking advantage of foreign exchange. He perceived moreover that, once established, a contraction of the currency might be forced to an extreme, and that when money rose beyond price, debtors would have to surrender their property on such terms as creditors might dictate.