Watch videos with subtitles in your language, upload your videos, create your own subtitles! Click here to learn more on "how to Dotsub"

Open Money: Part 4

0 (0 Likes / 0 Dislikes)
Money that comes back when we spend it, now THAT sounds like a good idea. The only question is how do we do that. Well first thing is, were not going to do it with conventional money because that stuff It's got value built into it and it's value takes it out. It's gone. So if we want money that does come back we've got to make to make a radical change in the criteria that define money And what does this look like? Well let's supose, that also in addition to this level going up and down, in our real money barrel our conventional money barrel. We have accounts in an imaginary virtual money. I spend, I go down, and somebody else goes up. And it's simply an oscillation of these bouncing balances around the network. A bunch of kids on trampolines. Every time somebody goes down, somebody else goes up, every time somebody is going up, it's 'cause somebody else went down. It's a bit like breathing, It's very simple, very straight forward. Instead of spending money and seeing it gone, and no result, The money i spend in this network requires somebody at some stage to employ me, to offer me work. We can, with community money, spend ourselves back into employment and in to common wealth And, most of these networks are entirely self managing. They don't need the intervention of a committee or a control structure or a hierarchy. The intelligence is in the users, it's not in the network and that's the primary factor that makes them so resilient and self managing, and will increase their propagation mightily

Video Details

Duration: 2 minutes and 4 seconds
Country: United States
Language: English
Producer: Alan Rosenblith
Director: Alan Rosenblith
Views: 589
Posted by: alanrosenblith on Dec 23, 2009

Virtual tanks.

Caption and Translate

    Sign In/Register for Dotsub to translate this video.