I have been thinking about a monetary system where the dollars have an expiration date. I don't know if it has to be digital currency for this to work, but there needs to be a way to make dollars vanish over time. And there would be incentives to do certain things like invest your money by lengthening the time that it is valid. And that debt created to finance the creation of currency would be bonds that either lose value over time, in other words make it negative interest, or just decline the value of that debt so that the investment lasts longer than the ordinary expiration date of the currency. So it actually extends the life of the currency invested. Which can be pulled out any time, but it would obviously be a smaller amount then the amount invested. And that's also how we get a universal basic income for everybody. The money is on a time limit. What does everyone think???
Gold values will skyrocket to infinity and beyond as people seek to store their wealth in something that doesnt expire.
That does seem like an intriguing idea if you were dealing with a financial crisis that required a large, quick infusion of cash. A quick way of doing that is produce gift cards with an expiration date. Use it or lose it.
I can barely find the expiration date on my salad dressing bottle. No thanks. ....and you would be encouraging a black-market or bartering economy which would worsen things, not improve them. If the have nots truly have not, then they have nothing to barter
1) you clean forgot to tell us how poor people get the disappearing money 2) and why we don't just raise taxes and give it to those who don' have income
I haven't given thought to the poor people. I really don't know. But I'm fishing for ideas. I suppose if it's a basic income it just arrives at the beginning of the month, or something. Otherwise it would be obtained through work and money transactions. Or maybe it would be like Bit Coin and you 'mine' it. There are endless possibilities.
If this were the case it would be that you obtain it and then you have a limited time to spend it. Spending increases the life span of the currency so that it's always flowing, moving, and changing hands.
So as to create a debt free society. You see any loan or debt asset would depreciate in value. That is the debt part of it erases itself from existence. But the currency itself must disappear too. It follows a 1 asset to 1 debt issuance model of currency creation, but then skews it. But there is a limit to how far it can go. We can't have extra currency floating around causing hyperinflation.
I don't understand how people engage in black market activities when they get a sufficient allotment of stuff. But they do it and it confuses me. As an example, one time I was in the hospital and they give you a package of basic care supplies when you arrive and you can later get refills of those stuffs at the front desk when you run out. Well I caught people raiding the welcome packet of supplies, set out for a new patient, for stuff to pass around. And meanwhile there were unlimited supplies at the front desk, assuming you didn't ask for them too frequently. There was a whole black market economy running in the hospital and I didn't understand the need for it.
why cares about that? either way the people who work are getting poorer and the people who don't are richer.
And another thing. You're only thinking about the poor, but not the rich. In fact this eggs the rich as much as the poor. They can't build wealth and hoard it, they have to use it, or invest it, or it disappears.
That only happens if you're funding a universal income with taxes. I haven't brought taxes into my idea yet.
Well universal income is an afterthought. So many people want it and I've provided some of the building blocks that avoid some of the problems presented by having it available. Like who pays for it? It creates itself somehow. Maybe thought the issuance of debt, maybe through 'mining' like bit coin... (any other ideas???) What do you do about creating money out of thin air and flood the market with money that devalues the currency??? Well it disappears by itself over time.
Often that sort of stuff you mention is because food stamps won't cover it or little old ladies need to restock their purses. If a patient goes into a room, the stuff gets tossed if i used or not anyway as part of their infection control procedures
That would put an end to people storing money under their mattress. How many people do you think have rooms filled with paper currency? That already exists, the purchasing value of the dollars diminishes which leads most people to convert their dollars into something that is expected to grow rather than shrink in value over time. How would you incentivise people to 'invest?' with pre-knowledge of a loss? I wouldn't give it much thought.
