Description

Norbert Haering, an economic journalist and author, discusses how India’s sudden abolition of large-denominated bills, amounting to 80% of all cash in circulation, has created great hardship in a country where half the population doesn’t have a bank account and earns a living in the cash-based informal economy. Haering names the US-based NGOs, banks, and credit card companies that stand to profit handsomely from the forced transition to electronic payments.

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discussions

  • All Libertarians, answer the questions and be not afraid. What are some of the most common services provided by government that can be replaced by privatization? What is your proposal for implementing these services? Suggested topics: Security, Monetary supply, and of course Roads; every libertarian’s favorite subject.

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  • Banks have been blamed for having fractional reserves, instead of 100% reserves. What’s your opinion?

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  • Dear Liberty.me’ers: I thought I’d reach out and see if any of you would be interested in a project I’ve been working on. I have set up a way to make a gold account interface with the modern electronic banking system. You get all of the convenience of modern banking, without the inherent, umm…. risks, difficulties, dare I say, fraudulence? You keep your savings in gold, and you pay everyone else in dollars. And that’s always a good principle: keep your assets in a sound currency, and your liabilities in an unsound one. The gold is vaulted in Switzerland. So instead of going through lots of rigamarole selling gold, going to a dealer, paying a big percentage, etc., you can just *spend your gold*! Instantly! My company is Midas. I’ve set up a bare-bones placeholder site at: http://Midas.gold Here’s a rough informational brochure I made: https://www.dropbox.com/s/mdz6ev6pqua61lw/Midas%2Belectronic%2Bbrochure.pdf?dl=0 Let me know if you would be interested in getting such a card.  I am just looking for a few beta-testers.

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  • Who are the money changers? What role have they played in history?

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  • A Penny Doubled Dailey For Thirty Days comes to a Total of $5,368,709 and 12 Cents. 1 .01 2 .02 3 .04 4 .08 5 .16 6 .32 7 .64 8 1.28 9 2.56 10 5.12 11 10.24 12 20.48 13 40.96 14 81.92 15 163.84 16 327.68 17 655.36 18 1,310.72 19 2,621.44 20 5,242.88 21 10,485.76 22 20,971.52 23 41,943.04 24 83,886.08 25 167,772.16 26 335,544.32 27 671,088.64 28 1,342,177.28 29 2,684,354.56 30 5,368,709.12 Is the power of compounding working for you or against you?  Hint: are you paying interest or making interest?

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