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Re: [Taler] note to 035-regional-currencies.rst

From: Calvin Burns
Subject: Re: [Taler] note to 035-regional-currencies.rst
Date: Mon, 13 Mar 2023 16:55:26 +0000

On Sun, 02/12/2023 07:12:29 PM, Christian Grothoff wrote:
> On 2/12/23 14:13, Calvin Burns via Taler wrote:
> > Just some thoughts about local currencies.
> > 
> > An exchange could also connect two regional currencies.
> > The "cash-out" function would translate currency 1 to currency 2 somehow.
> We actually think that in general currency conversion should likely be the
> role of a merchant, where you purchase one currency and pay with another
> one.  The regional currency 'cash-out' functionality by libeufin is a bit of
> a special case, as this is handling the case where no exchange is available
> for the fiat currency.
I can't see that a merchant is natural.  Money is not a commodity.  The
communities of a local currency issue money without cost and how and as they
think is "useful" within their respective political systems.

What alternatives are there?
For instance take a person p1 in currency system r1 and person p2 in currency
system r2.
Now to connect those systems p1 gets an account in r2 and p2 in r1.
Then the community of r1 can decide to give p2 credit so p2 can buy in r1.

Why are private banks allowed to print money?  Why are they allowed to take
tribute for printed money?  Why are they allowed to decide who gets money and
for what?

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