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It needs to be issued against productive endeavour. Banks issue against land ramping up prices and in doing so they effectively grab themselves a piece of our l
by branchless 10y ago
It needs to be issued against productive endeavour. Banks issue against land ramping up prices and in doing so they effectively grab themselves a piece of our labour by forcing us to pay a greater share of our income to them via usury.
- ArkyBeagle 10y agoUsury is One of Those Words. I don't know how a debt instrument needs a distinction like that. Our culture is such that we cannot make basic distinctions between rents in general and productive work. I suspect we'd have to fix that, then let the existing accounting mechanisms sort it out.
- branchless 10y agoWe just need to tax the rentiers. The rest will fall into place.