On Wednesday, May 15, 2013 7:20 PM Elliot Temple <cu...@curi.us
>On May 15, 2013, at 4:54 AM, "Mason, Larry K" <ma...@email.unc.edu
>> In my system when a luxury is bought, the money ceases to exist. The producers of the luxury will receive some money soon (within a month?) for that benefit and may receive more later if other benefits become apparent later.
>Adding a month delay to many financial transactions would be an economic catastrophe. (Plus the uncertainty about how much you will be paid.)
In my system, financial transactions are purchases of luxuries. Hardly something that can cause an economic catastrophe. But with physical object money financial transactions are the heart and soul of most economic catastrophes.
In my system, only your luxury income is at risk. With physical object money, how much you will be paid is not only unknown but if huge importance. (Just ask those folks who don't know whether they'll have a job next month or those who have lost their jobs.)
The more you write the more you make the case that physical object money economics is a horror show.