FAQ: Frequently Asked Questions Question: How do you provide free healthcare, free housing, free minimum income, without taxation? Some Possible Hypothetical Answers from an Expert in Simplistic Magical Thinking: The general idea is that all the money is digital and it all stays in a single global online nonprofit free and real time central bank. This is taking the idea of automating the whole economy to it's logical extreme. In this system, producers are rewarded for their products when consumers consume them, but consumers themselves don't need money. Instead of moving money around between banks, businesses, producers, consumers and merchants so that it ends up in large piles hoarded over here and not enough of it over there (for billions of people), you just keep track of the points virtually in a massive cloud-based virtual bank. Since the whole economy is now represented virtually, you can digitally edit the virtual accounts of the poor so that they are now in the middle class. The economy is a game. If people prefer to keep a game going or to have a new game that involves money, you would still recognize virtual money as a medium of exchange that could be used to buy land, but that would be for the business people who want to play the game of running up the score. Most consumers would not need to keep money. Since you'd have to make a transition to the new system from the old, you could merge all of the banks, while transfering all deposits to 100% insured accounts in the virtual central bank, in local currencies, represented virtually. This will make it easier for the citizens to adjust. Since that would end up in a giant pile of virtual money being unequally distributed, using virtual currency and electronic scorekeeping, you buy out all the mortgages and landlords and let everybody own their home. Work would then be optional and we'd have to re-organize the economy based on a new model where everything is paid for and hoarding (saving) would be unnecessary, because the central bank has all the virtual currency in the world and pays for all products without the consumer needing to have the money in the first place. It's a totally new model and paradigm for the whole society. The end of slavery. Let everybody own their home. This includes all apartments and rental homes. Everything goes to the occupants, residents and tenants. The land, the structures, everything. Everybody ends up with private property and a safe home. There's no more incentive for crime. You don't need as many police because suddenly the world is much safer. A left libertarian socialist in the Wikipedia sense doesn't believe in private property. I'm not in that camp. I'm in the camp where everybody ends up with private property. Even though, in a utopian social sense, the central bank is the defacto owner, like a global benevolent kingdom. The idea is that you are still allowing people to play an economic game going forward, if the public prefers to play it like that. You don't have to do it this way, these are just ideas to create an educational discussion. What comes out the other end of the discussion may look nothing like the original proposals that served as consensus focal points to get the discussion started. The only outcome I'm committed to and have a stake in is that we end up with much less wealth inequality, the end of poverty, world peace and liberty and justice for all. Basically you are replacing the petroleum economy with the information economy. Work would be optional. You'd structure it so that there would still be incentives for some people to work - voluntarily (as in by choice). I have no idea how many people would still NEED to work for the society to run smoothly. We'd work it out. People would organize and responsibilities would be re-assigned. Unlimited funding for green energy, electricity, green transportation for everybody everywhere beginning immediately. Massive infrastructure projects all over the world. Unlimited budgets for electric vehicles. We could build a ground-based positioning system that is accurate like our current satellite-based GPS, but it could be made more reliable by creating an intelligent mesh of digitally controlled radios. People wouldn't need to own electric vehicles. They could hail automated electric shuttles to transport them. When I said, "voluntarily," I didn't mean working for free. You would still pay workers who chose to work, but you wouldn't have to work. Basically, in virtual reality, you are God. You can say, EVERYBODY OWNS THEIR HOME, EVERYBODY IS MIDDLE CLASS. For one moment in time, there would be no landlords. Then you could start over, and use money in the traditional sense and provide a digital Basic Income Guarantee that puts nonworkers into the middle class. You can do anything. 7.5 billion bank accounts for individuals, suddenly receiving a payroll. http://hdcolors.com

• published: 02 Dec 2011
• views: 9165122