Category: Commentary, Critique, and Response

Curt Doolittle updated his status.

I have a few questions if you don’t mind.

1) –“Besides Ostrom, what can I read if I want to understand more of the commons?”–

Honestly, I don’t think there is else much worth reading. I would read the history of the common law which is in my book list. And I would read my definition of property in toto.

2) –“Who would you consider influential in the Chicago school for the insurer of last resort argument for the state?”–

Becker and Friedman. Becker for method, and Friedman for Solutions, Hayek for integration with law, Coase for institutions. Just go thru the list of famous people from Chicago: https://en.wikipedia.org/wiki/Chicago_school_of_economics

3) —“And lastly, where can I read more on the proposed propertarian financial/monetary/banking system?”—
I haven’t categorized (tagged) that group of ideas on the site, so it’s spread all over the place. I can’t spend 30 minutes doing a bunch of searches right now but I can think of a few that might be helpful. But understand, this is a very small part of the program:

1) https://propertarianism.com/2016/12/10/whats-your-position-on-ubi-welfare-2-0/

2) ***DE-FINANCIALIZATION:
Definancialization of the Financial System. There is no reason we pay interest on consumer loans (and every reason we pay it on business and industrial loans).

By nationalizing Mastercard, and issuing one every LEGAL AND FULLY INTEGRATED citizen, we can distribute liquidity (increase the money supply) by direct redistribution to the citizenry (in which case our homes would all be paid for because of the last recession), and consumer loans can be provided directly from the treasury.

Furthermore, by professionalizing ‘banking’ (basically requiring series 7 for issuing loans via the treasury, and licensing as we do CPA’s), we can eliminate consumer interest, and cut payment periods in half or to one third. Additionally we make universities carry the zero interest loans on behalf of any student, and to obtain payment as a payroll deduction over a period of no more than ten years.

This combination will mean that after about 15 years, the first time home owner will own his home free and clear, and the universities will no longer be able to offer junk degrees. I won’t go into the various extraordinary (wonderful) other consequences but this will restore the american people’s way of life and destroy the predatory financial, academic, and government sectors. There will be no other way to profit than the Silicon Valley (monarchy) model of investment in research, development, and industry.

Financialism will be destroyed forever.***

4) —“If I understand correctly, you’re proposing 100% reserves under fiat,”—

No, you must publish your ratios at all times, and hold to any ratio whenever a debt was initiated.

You many not transfer originated debt. You can sell interest in that debt but must carry it.

And lastly, given that most consumer lending would be from the treasury and without interest, this would apply largely to commercial relations.

5) —“while having at least two if not more parallel monies, one for savings (probably a gold standard) and one as a means of exchange (fiat e-cash),”—
Multiple monies in general. I think my view is of far more than two.

6) —-With savings and investments happening under private banks while current accounts controlled by central bank). Is that correct?”—-

I see individual agents having relationships with the central bank for consumer credit, and very little need for them, without a bank as an intermediary.