Private Money with Stefan Eich
The Dig
00:00
Iilike's Proposal for the Denationalization of Money
In a speech in 19 81, he describes his proposal for the de nationalization of money as hopelessly utopian. He's perfectly aware that this will never be politically in fact. So what he does instead is to up date his idea of competing currencies by adapting it to that rapidly changing reality. The state can't control what exactly a bank does in the kind of accounts that it operates but banks are able to essentially create credit and benefit from privatized public prerogative.
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