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Do You Have A Favourite Coin?

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#16 pepactonius


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Posted 31 March 2012 - 11:57 PM

US $20, 1908-1933, especially the design of the reverse

See avatar pic.

#17 The Spaniard

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Posted 11 April 2012 - 03:42 PM

I would like to own this one: :lol:

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Imagine a society that recognizes for the first time its need for a universal medium of exchange.

Someone offers to run this new system, on condition that he alone issues the necessary tokens of exchange. He proposes to lend out the tokens for everyone else to use to conduct their business, but only if they pay him interest for this use.

Would you support his proposal or would you think he was trying to scam you? Why would you think that his tokens were better than anyone else's?

Should the medium of exchange be issued collectively and debt-free as a utility for productive enterprise and trade, or should it be lent into existence at interest by a privileged but essentially unproductive minority, as a cost to and as a drag on everyone else?


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