mundane

Back on April 14th Eric Harris-Braun wrote to me in part:
“....I thought I'd point you to my latest writeup on open money: http://openmoney.info I think you might be most interested in the theory page, ....

As it turned out, this email came in on a partially forgotten account, so I didn't even see it until June 21st (over 9 weeks later). Embarrassed, I apologized for the delay; and then continued:

“Interestingly, I'd been thinking about you recently and just a few days ago I was going through much the material on your WEB sites (I even logged into my account at http://alpha.openmoney.info/om.cgi). And yes, I actually did read with much interest your "theory page". In fact it was the most intriguing document I came across that day. So let me recount my most notable impressions:

1. You open with an introduction on the Tradeable - Measurable - Acknowledgeable paradigm. I needed to reread and wrangle with it a bit to get this new perspective into focus. However it was worth the effort and could possibly provide the basis for some valuable elaborations. It's when one gets into rewriting a piece that you really need to devote maximum effort to do the concepts justice and hopefully come up with a real contribution.

2. Regarding concepts such as “Wealth Acknowledgment” and your interest in setting the stage where the creativity of others can extend our horizons beyond anything we have yet considered — these are things I relate to instantly. Many of your objectives are so much in accord with my YeNom idea that it's almost eerie.

3. There is, I propose, a extremely pertinent & significant factor that desperately needs recognition in your theory page. A lot is said regarding the scarcity of money and your/our proposal to eliminate that scarcity through the creation of (local) currencies. However, the crucial thing that is left unsaid (and will likely make readers uncomfortable on at least a subconscious level) regards misgivings about possible inflationary factors. I think it is worth addressing this issue head on. The two main distinctions between the proprietary money supplied by governments and the type we want to create is a) what is being monetized, and b) how it is introduced into circulation. In the first instance, government debt is the preferred poison. I'd even argue that the very foundation of such a system is consequently a form of anti-wealth, with more & more debt not being a positive thing. The basis of our systems lie essentially in promises of individual personal performance insured by the issuers best interest to maintain a respectable reputation. And the more we have of this is a positive thing. Another night & day difference exists with the methods of introduction. In the former, money is injected into the economic area via bank loans (so it is never free and always burdened with interest). Plus it trickles down from the money moguls to the producers. Our alternative is the exact opposite of this! Not to mention that said debts (the fodder for their proprietary money) were created by the government to either fund their welfare programs (which essentially saps recipients' motivation for gainful endeavor) or, they are entering the market place to buy-up/divert labor and materials to satisfy their needs for arms, surveillance and policing (which of course tends to drive prices up). ......





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That very same morning, Eric responded saying: