Are you saying direct gold ownership is broken? I suppose writing notes based on gold is a messy business, I can write an infinite number of notes based on the same piece of gold.
In theory a bank could make sure this does not happen, and its reputation would be reason to trust it (more so than that of one person), but this too only works temporarily as we know.
My idea is for everyone to replace banks with their own offerings.
No more banks. just honest folk with their own "promissory note currencies".
Banksters may be scarce when 2024 ends.
There are many reasons to not want to be your own bank. And for not wanting a "promissory note" currency. I struggle to see the masses wanting this enough to overcome such things.
I sincerely hope it never comes to that.
Unfortunately,
collision between hope and current reality trajectories would involve kinetic energies
sufficiently powerful to erase doubts.
Yea, we will definitely have to see what happens. Barter is better than nothing, that's for sure. Your system may enhance barter a bit.
